New Delhi/Chandigarh, March 23 -- The Enforcement Directorate on Saturday said it has arrested the son-in-law of late PACL promoter Nirmal Singh Bhangoo as part of a money laundering investigation linked to an alleged Rs 48,000 Crore Ponzi scheme in which numerous investors were duped.
Bhangoo's son-in-law Harsatinder Pal Singh Hayer was taken into custody on Friday. A special Prevention of Money Laundering Act (PMLA) court sent him to the ED custody, the federal probe agency said in a statement.
The money laundering investigation of 2015 stems from a CBI FIR against against PACL India Limited, PGF Limited, Bhangoo and others for operating "fraudulent" investment schemes to deceive the investors. Through these schemes, PACL and its direct...