The Enforcement Directorate arrested Delhi-based lawyer Rohit Tandon on Wednesday night in connection with the ongoing money laundering case against him. He will be produced in court on Thursday.
Also read: Kotak Mahindra Bank manager arrested by ED in money laundering case
He was arrested last night after an investigation revealed that he had nine fake accounts with deposits worth Rs 34 crore after demonetisation.
Tandon had revealed that Kotak Mahindra KG Marg Bank Manager Ashish Kumar had received Rs 51 crore from him. He made drafts of Rs 38 crore on fictitious amounts that were later cancelled by the Income Tax department. He received Rs 13 crore as conversion money.
"The Manager has been arrested under the provisions of the Prevention of Money Laundering Act (PMLA) and will be produced before the court for further custody," they said.
The bank in its statement said it has already "suspended the services" of Kumar.
"With reference to the ongoing investigation of the said accounts, Kotak Mahindra Bank had proactively informed Financial Intelligence Unit and the bank has already suspended the services of its employee Ashish Kumar. The bank has zero tolerance towards employees not adhering to its Code of Conduct, and takes strict measures against them," Kotak Mahindra spokesperson Rohit Rao said.
The ED registered an FIR under PMLA laws after taking cognisance of Delhi Police's crime branch FIR.
The police also arrested two people last week for allegedly depositing black money worth Rs 34 crore in nine fake accounts in the Naya Bazar branch of Kotak Mahindra Bank.
Kumar has been arrested in connection with Rohit Tandon and Paras Mal Lodha. They were arrested after several crores in Rs 500 and Rs 1,000 notes were found in their possession.
Lodha was reportedly offering services to convert old notes to new ones at the rate of 20-25 percent. Lodha's digital diary was found by the ED, through which they discovered that he was laundering money and helping others do so as well.
