Kolkata, July 8 -- The Enforcement Directorate (ED), probing a money laundering case in which investors were cheated, arrested an alleged mastermind broker, Saiyad Jiyajur Rahaman, and took him into custody following court production, official sources said today.
The prime accused, the director of LFS Broking Pvt Ltd, was arrested on Saturday following raids at multiple locations in the city and got his custody upto July 14 following production in a special court in the city, they said.
He was arrested under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
Rahaman is said to be the mastermind behind fraudulent schemes carried out through his LFS Broking Pvt. Ltd., which promised assured returns ranging from 2-3 perc...