Bank fraud case: ED arrests former UCO Bank CMD Goel
New Delhi, May 20 -- The Enforcement Directorate (ED) arrested former chairman and managing director of UCO Bank, Subodh Kumar Goel, from his residence in Delhi on May 16 in a money laundering probe related to a bank fraud case against Concast Steel and Power Ltd and others, the agency said on Monday. Goel was arrested under prevention of money laundering act (PMLA) and was produced before a special court in Kolkata the next day, which sent him to ED custody till May 21, the agency said in a statement.
The probe stems from a first information report (FIR) of the Central Bureau of Investigation (CBI) relating to the sanction of credit facilities to CSPL and subsequent large-scale diversion and siphoning of loan funds amounting to Rs.6210.72 ...
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