ED raids in Delhi-NCR, Mumbai, Nagpur in over Rs 20,000 crore bank fraud case

The Enforcement Directorate conducted searches at 35 premises in Delhi-NCR, Mumbai, and Nagpur as part of a money laundering investigation against the Amtek Group and its directors, including Arvind Dham and Gautam Malhotra. They have been accused of a Rs 20,000 crore bank loan fraud. The probe, stemming from a CBI FIR, alleges fraudulent practices in listed companies leading to a loss of Rs 10,000-15,000 crore, involving siphoning of funds for real estate and foreign investments, and creation of shell companies to hide assets.