New Delhi, Aug 24 Enforcement Directorate (ED) on Thursday said that they have arrested an accused identified as Mannu Singh in connection with a Prevention of Money Laundering case pertaining to the case of Kotak Mahindra Bank fraud of Rs. 31.93 crore.
ED said that bank account of Competent Authority for Land Acquisition (CALA) cum District Land Acquisition Officer (DLAO) were executed and funds were siphoned off using bank accounts of various shells/dummy entities causing huge loss to government exchequer.
ED said that it initiated PMLA investigation based on an FIR registered by Gandhi Maidan P.S. Patna under various section of IPC. The police also filed a charge-sheet alleging that fraudulent transactions totaling to Rs. 31.93 Crore from the bank account of Competent Authority for Land Acquisition (CALA) cum District Land Acquisition Officer (DLAO) were executed and funds were siphoned off using bank accounts of various shells/dummy entities causing huge loss to government exchequer.
ED said that Sumit Kumar, the then Bank Manager, Kotak Mahindra Bank, Boring Road Branch, Patna was arrested by ED on July 10 and later on one of his close associates Shashikant Kumar was arrested on August 2.
It said that Mannu Singh was actively involved in siphoning off public money from the bank accounts of CALA cum DLAO, maintained with Kotak Mahindra Bank, Exhibition Road Branch, Patna and its further diversion to various shell/dummy entities.
ED investigation has revealed that funds of Rs 3.05 Crore were debited from the account of Cala cum DLAO Patna and PD NHAI PIU in four transactions and were credited in the bank accounts managed by Mannu Singh and later transferred to the accounts which were used by the accused after retaining his commission.
Singh was produced before the Special PMLA Court which sent him to ED custody for six days.
ED said that further investigation into the matter is going on.
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