Bank Fraud Case: Businessman Gagan Dhawan sent to 7 day ED custody
New Delhi [India], November 1 (ANI): The Enforcement Directorate on Wednesday arrested businessman Gagan Dhawan, accused in Rs. 5,000 Crore money laundering case and sent him to seven days custody.
ANI
Nov 01, 2017 20:31 IST
New Delhi [India], November 1 (ANI): The Enforcement Directorate on Wednesday arrested businessman Gagan Dhawan, accused in Rs. 5,000 Crore money laundering case and sent him to seven days custody.
According to reports, Dhawan allegedly aided bank loan frauds related to a Vadodara-based company named Sterling Biotech.
His arrest comes after the ED registered a case of money laundering taking cognisance of a case filed by the CBI against Sterling Biotech, its Directors -- Chetan Jayantilal Sandesara, Dipti Chetan Sandesara, Rajbhushan Omprakash Dixit, Nitin Jayantilal Sandesara and Vilas Joshi and several other persons in connection with the alleged bank fraud case.
On August 25, the ED officials had raided Dhawan's office and premises and that of a former Congress MLA Sumesh Shokeen under provisions of the Foreign Exchange Management Act (FEMA).
Earlier in 2011, Income Tax officials had raided Arya's residences and a case was registered then. (ANI)
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