Chandigarh, Dec. 25 -- The Enforcement Directorate (ED) has intensified its investigation into a Rs 7 crore digital fraud involving senior executive S.P. Oswal of the Ludhiana-based Vardhman Group, carrying out coordinated searches across five states and arresting one accused in the case, officials said.
According to the ED, teams from its Jalandhar zonal office conducted searches on December 22 at 11 locations spread across Punjab, Haryana, Rajasthan, Gujarat and Assam. The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, following a first information report registered by the cybercrime police station in Ludhiana.
Investigators said the fraud was carried out by individuals who allegedly impers...