Private bank managers nabbed for laundering crores in old currency
ED was already running a probe on this money laundering case and during interrogation a third person named Shashank Sinha and Vinit Gupta.
After Shashank and Vinit were arrested, the private bank released the statement where they have clearly mentioned that they are cooperating with the investigating officials.
Two Axis Banks managers Shashank Sinha and Vinit Gupta have been arrested by the Enforcement Directorate (ED) for money laundering in New Delhi on Monday. 3kg of gold bars have also been confiscated by the ED officials.
The two have been arrested from the Kashmiri Gate branch of Axis Bank in New Delhi. These two managers have also allegedly tried to exchange ₹40 crore in old notes.
ED have managed to find out that the money was getting laundered using the banking channel through entry operators, a chartered accountant and shell companies.
ED was already running a probe on this money laundering case and during interrogation a third person named Gupta and Sinha. Thus the lead helped them to nab the two accuses in this case. Post the arrest, ED has requested the banks concerned to freeze 11 more accounts related to this case.
After Shashank and Vinit were arrested, Axis bank released the statement where they have clearly mentioned that they are cooperating with the investigating officials and obviously they have suspended the two managers with immediate effect.