ED has arrested Punit Garg, ex-Director of Reliance Communications Ltd, under PMLA in the Rs. 40,000+ Crore RCOM bank fraud and money laundering case.
Probe shows he diverted Proceeds of Crime to offshore entities, and used POC for his children’s overseas education. He also fraudulently sold a $8.3 million luxury condo in Manhattan, New York and siphoned the sale proceeds to a Dubai based entity.
The Hon’ble Special Court (PMLA), Rouse Avenue has granted ED 9 day custody while investigation continues. details with CTN read as under:-
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