Ex-MP Involvement in Andaman Loan Scam Unveiled
Former Congress MP Kuldeep Rai Sharma and two others have been arrested in connection with a Rs 500 crore loan scam by the Enforcement Directorate. Investigations revealed fraudulent loans facilitated by shell companies, benefiting Sharma and others. The ED continues to conduct searches in the Andaman and Nicobar Islands.
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The Enforcement Directorate on Thursday transported ex-Congress MP Kuldeep Rai Sharma from the Andaman and Nicobar Islands to Kolkata in connection to the ANSCBL loan scam, according to officials.
Sharma, alongside former ANSCBL managing director K Murugan and former loan officer K Kalaivanan, were arrested by ED under the Prevention of Money Laundering Act for their roles in sanctioning fraudulent loans. The trio was moved to Kolkata following a Special Court's remand ordering eight days of ED custody.
The investigation, originating from a complaint regarding gross loan sanction irregularities, has unraveled a conspiracy involving Rs 500 crore disbursed through fake accounts, with Rs 230 crore benefiting Sharma and associates. Further searches are underway following initial operations last month.
(With inputs from agencies.)
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