SRINAGAR: The Enforcement Directorate (ED) on Thursday conducted raids at six locations in Srinagar in connection to a case related to bank fraud of more than Rs 250 Crore in the name of fake River Jhelum Cooperative House Building Society.
In a statement, a spokesperson said that Enforcement Directorate has raided at least six locations in Jammu and Kashmir in connection with ‘Money Laundering Case’, including the premises of the former Chairperson of J&K Bank.
The investigation agency has been conducting in both Jammu and Kashmir parts in a case related to the J&K Bank fraud.
“Today Srinagar ED office is conducting search u/s 17 of PMLA in the money laundering case related to J&K Bank Fraud of more than Rs 250 Cr in the name of fictitious Society namely River Jhelum cooperative House building Society,” the statement reads.
Pertinently, ACB has already filed chargesheet against Mohd Shafi Dar, Hilal A Mir (Chairman of the Society) and others for commission of offences under Sections of IPC and Corruption Act.
