New Delhi, Feb. 12 -- The Enforcement Directorate (ED), Panaji Zonal Office, on Thursday said it has attached movable and immovable properties worth Rs 1.17 crore in a bank fraud case involving UCO Bank under the provisions of the Prevention of Money Laundering Act (PMLA).
The ED initiated the PMLA investigation based on an FIR registered by the Economic Offences Cell, Goa Police, against Hemant Raikar and Gundu Kelvekar.
The accused allegedly entered into a criminal conspiracy to cheat UCO Bank by fraudulently securing gold loans from its Verna, Fatorda and Margao branches.
Searches were conducted in 2025 at the residential and business premises of Hemant Raikar and Gundu Kelvekar, leading to the seizure of incriminating material.
The ...