Island Loan Scandal: Ex-Congress MP Arrested

The Enforcement Directorate (ED) has detained former Congress MP of Andaman and Nicobar Islands, Kuldeep Rai Sharma, tied to the ANSCBL loan scandal, an officer disclosed on Thursday.

Officials from the ED, Kolkata Zonal Office, apprehended Sharma, the ex-chairman of ANSCBL, and two others under the Prevention of Money Laundering Act (PMLA), 2002. They were arrested on Wednesday evening, according to the officer.

K. Murugan and K Kalaivanan, both former bank officials at ANSCBL, also faced arrest and were remanded to ED custody for eight days. Ongoing investigations reveal fraudulent credit disbursements exceeding Rs 500 crore through shell companies, partially benefitting Sharma and associates.

(With inputs from agencies.)