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By Express News Service
CHENNAI: The Enforcement Directorate has filed a lawsuit against the managing director of Kanishk Gold, Bhoopesh Kumar Jain, and others under the Prevention of Money Laundering Act before a special court designated for the trial of money
The investigation began after Chennai CBI registered against Kanishk Gold following a complaint by the general manager State Bank of India, Chennai, allegations of forgery, cheating and criminal conspiracy against Kanisk Gold Pvt Limited (KGPL), its directors and auditors for the cheating consortium of 14 banks worth `824 crores.
As the offenses invoked in the said FIR are scheduled under the PMLA, the ED, Chennai has initiated investigations against the said entities. During investigations under the PMLA, falsification of records has been reported to have been reported in the United States.
During simultaneous search operations, the United States of America has developed a number of properties in the village, Maduranthagam Taluk, Tamil Nadu. Later, fixed deposits with connected jewelers, worth `143 crores, were provisionally attached.
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