ED registers case in Rs 173 cr fraud in UBI, navyamedia

ED registers case in Rs 173 cr fraud in UBI

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In another banking fraud, the Enforcement Directorate registered a money laundering case in connection with an alleged scam of over Rs 173 crore in the United Bank of India (UBI) in 2016.

ED registered the case under the Prevention of Money Laundering Act (PMLA) for the alleged fraud in UBI.

The case is related to an FIR filed by the West Bengal CID in July 2016, he said.

National Small Industries Corporation had filed a complaint against 23 people including S.K. Halder, a former employee of the corporation, and few bank employees for submitting fake bank guarantees to avail raw material assistance scheme of the Corporation.

The state CID had filed a criminal case against the accused and has since arrested three senior employees of the Kolkata-headquartered bank in this case in June last year.