Intelligent India

PMC bank fraud: Wadhawans get police custody till October 9

Post By Bipin · On October 05, 2019



PMC is a fraud bigger in magnitude than Nirav Modi. The entire top brass and board of the bank seems to be in cohorts with HDIL group.In arecent update Mumbai Police’s Economic Offence Wing arrests suspended MD Joy Thomas.

Also on Thursday, the EOW had arrested HDIL directors Rakesh Wadhawan and his son Sarang Wadhawan in connection with the case. According to the Mumbai Police FIR, the losses in the alleged fraud case have been pegged at Rs 4,355 crore

The Enforcement Directorate (ED) has seized 12 high-end cars which include two Rolls Royce, two Range Rover and one Bentley, of Housing Development and Infrastructure Limited (HDIL) chairman Rakesh Wadhawan and his son Sarang Wadhawan on Friday following raids at six locations in Mumbai.

They agency has filed a money laundering case against HDIL promoters in the ₹4,355 crore Punjab Maharashtra Cooperative (PMC) Bank fraud case.

However the citizens are holding banners asking PM Modi to help.

And in one week, RBI forced to lift limit for PMC bank depositors to withdraw from RS 1000 to RS 25,000. Public pressure works!! More needed!

PMC bank fraud: Wadhawans get police custody till October 9

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About Me

Bipin Sasi is a technology executive and a seasoned Journalist fighting fake news in India. He try to verify the facts with technology and present the truth behind any news circulating in Indian Media.