ED raids Jammu and Kashmir in co-operative bank fraud case
ED raids Jammu and Kashmir in co-operative bank fraud case

Jammu and Kashmir: In the context of its investigation into the over Rs 223 crore scam at the Jammu and Kashmir Cooperative Bank, the Enforcement Directorate raided multiple places in the state of Jammu and Kashmir.

This fraud was carried out using the purportedly fake River Jhelum Cooperative House Building Society name.

See Also  ED raids 10 locations in 3 states including Samajwadi Party's Vinay Tiwari's residence

The report also states that the ED is conducting raids on the former bank chairman’s premises. The fraudulent act was carried out under the guise of the River Jhelum Cooperative Housing Building Association, a fictitious residential association.

Under Section 17 of the Prevention of Money Laundering Act (PMLA), raids were carried out by the ED’s Srinagar office.

Advertisement -