ED Raids JK Bank Over Rs 250 Crore Money Laundering Scheme

ED Raids JK Bank Over Rs 250 Crore Money Laundering Scheme

Asif Iqbal | November 30, 2023 | 12:21 PM IST | Jammu Kashmir | Follow on Google News

ED Raids JK Bank Over Rs 250 Crore Money Laundering Scheme

ED Raids JK Bank Over Rs 250 Crore Money Laundering Scheme

On Thursday, the Enforcement Directorate conducted searches at six locations linked to the Jammu and Kashmir Bank in connection with a money laundering case amounting to Rs 250 crore, according to officials.

Among the places searched were the premises of the former chairperson of the bank.

The fraudulent activities were carried out under the guise of a fictitious housing society known as the River Jhelum Cooperative Housing Building Society, as per the officials.

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The Enforcement Directorate’s office in Srinagar conducted these raids under Section 17 of the Prevention of Money Laundering Act (PMLA).

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Asif Iqbal

Asif Iqbal is a seasoned news writer with a passion for delivering the latest updates to the public. Currently serving as the senior writer at VoM News, a prominent news outlet known for its comprehensive coverage of diverse topics, Asif has established himself as a reliable source of information. With a keen eye for detail and a knack for storytelling, he consistently provides readers with well-crafted articles that cover a wide range of news categories. His dedication to journalistic integrity and his commitment to staying ahead of the news curve make him an invaluable asset to Vom News, ensuring that readers are always well-informed on the issues that matter most. You can find his work and stay updated on current events by visiting vomnews.in.