bank fraud investigation
ED Seizes Luxury BMWs, Mercedes and Land Rovers in Major SBI Car Loan Fraud Investigation
Nov 29, 2025 01:03 pm CST
The Enforcement Directorate has conducted raids across 12 locations in Pune, seizing luxury vehicles including BMWs, Mercedes, and Land Rovers in connection with a sophisticated car loan fraud at State Bank of India. The investigation revealed that borrowers collaborated with bank officials to obtain high-value car loans using forged documents, violating bank lending policies in a scheme that operated between 2017-2019.
ED Transfers Four Mumbai Properties Linked to Mehul Choksi in PNB Fraud Case Recovery Efforts
Nov 25, 2025 02:30 am CST
The Enforcement Directorate has transferred four Mumbai residential flats connected to Mehul Choksi to a liquidator as part of ongoing recovery efforts in the Rs 6,097.63 crore Punjab National Bank fraud case. This action adds to the Rs 2,565.90 crore in assets already seized, with proceeds intended to benefit victim banks and creditors through court-supervised auctions.
Reliance Power CFO Arrested: ED Detains Anil Ambani's Aide in Rs 68 Crore Bank Guarantee Fraud Case
Oct 11, 2025 01:55 pm CST
The Enforcement Directorate has arrested Ashok Kumar Pal, CFO of Reliance Power and aide to Anil Ambani, for alleged money laundering involving fake bank guarantees worth Rs 68 crore submitted to a government energy corporation. The case connects to broader investigations into the Ambani group concerning potential loan diversions exceeding Rs 17,000 crore across multiple companies, with authorities uncovering sophisticated fraud techniques including spoofed banking domains and shell companies.