ED arrests former Maharashtra MLA in money laundering case
The Enforcement Directorate (ED) has arrested former Maharashtra MLA Vivekanand S Patil in a money laundering case linked to an alleged fraud of over Rs. 512 crore in a Panvel-located cooperative bank, officials said on Wednesday.
He was arrested under the various sections of PMLA and was produced before LD. PMLA special court on 16th June which granted the ED custody till 25th of June for further questioning. The ED money laundering case is based on an FIR registered against Patil and about 75 others in February last year by the economic offences wing (EOW) of the Navi Mumbai police that alleged irregularities to the tune of Rs 512.54 crore in the Karnala Nagari Sahakari (cooperative) Bank that is headquartered in Panvel in the neighbouring Raigad district.
This fraud highlighted after an audit was done at the instance of reserve bank of India in the year 2019-20. Audit revealed that patil was adopting off funds since 2008 from bank through 63 fictitious loan accounts to the loan accounts of karnala charitable trust and karnala sports academy which were founded by him only.
The police had thumb charges like criminal breach of trust, cheating among others under provisions of the Indian Penal Code, the Cooperative Societies Act and the Maharashtra Protection of Interest of Depositors Act in its FIR. ED had launched a money laundering probe on the basis of the FIR filed by the Navi Mumbai police, sources said. And RBI has restricted withdrawals at Rs. 500 per depositors across all accounts – ED said and the further investigation in this case has been under progress.
