Enforcement Directorate raids 35 Amtek Group locations in Delhi-NCR and Maharashtra under PMLA for a bank fraud case involving over Rs 20,000 crores.
Enforcement Directorate (ED) raids 35 locations linked to Amtek Group in Delhi-NCR and Maharashtra under PMLA for a bank fraud case involving over Rs 20,000 crores in several listed companies. The alleged fraud led to a loss of Rs 10-15,000 crores to the exchequer. The loan funds were reportedly siphoned off for real estate investments, foreign transactions, and new ventures. The ED suspects collusion between the group and auditors and professionals who manipulated the books of account to facilitate the fraud.
June 20, 2024
12 Articles