New Delhi, Aug. 25 -- The Enforcement Directorate (ED) today said that they have arrested one Amit Ashok Thepade in connection with an ongoing investigation related to a bank fraud of Rs.117.06 Crore involving Canara Bank. The arrest was made from a five star hotel where the accused was reportedly hiding.
The arrest was made by its Mumbai Zonal Office.
"He had been evading authorities for a considerable period. Based on actionable intelligence gathered, ED officials located him at a prominent five-star hotel in South Mumbai, where he had been staying for the past two months," said the official.
The official said that search conducted at the hotel premises led to the freezing of more than 50 bank accounts, seizure of cash amounting to Rs....