ED Arrested Yes Bank Co-Promoter Rana Kapoor In Allege Money Laundering Case

Yes Bank co-promoter Rana Kapoor has arrested by The Enforcement Directorate (ED). He was involved in a fresh money laundering case linked to an alleged Rs 4,300 crore fraud at the PMC Bank in Maharashtra. Kapoor, 63 was already in judicial custody in connection with alleged financial irregularities. The central probe agency arrested in March last year. He was purported kick backs paid to him and his family members in lieu of certain loans provided by the Yes Bank to a number of high-profile borrowers.He is in jail as per provisions of the Prevention of Money Laundering Act (PMLA).He was later produced before a special PMLA court that sent him to ED custody till January 30 in the second money laundering case filed against him, they said.The recent case pertains to the alleged loan fraud in the PMC Bank where the ED raided the premises of the Viva Group. promoted by Maharashtra MLA and Bahujan.ED has filed a money laundering case in October, 2019 to probe alleged loaThe central investigation agency filed a criminal case of money laundering in October, 2019 to probe loan fraud in the Punjab and Maharashtra Co-operative (PMC) Bank.

Written By: Rohan Mishra