New Delhi, April 19 -- The Enforcement Directorate (ED) arrested Amitabh Jhunjhunwala on April 15, the former Managing Director of the Reliance ADAG Group, for his alleged pivotal role in a massive money-laundering scheme involving the siphoning of public funds.

In "GROUNDS OF ARREST" of Jhunjhunwala, ED said that, "He was the key decision maker with respect to various operations of Reliance Home Finance Ltd. (RHFL) and Reliance Commercial Finance Ltd. (RCFL), such as raising of funds, monitoring cash flow, monitoring Assets Under Management, analysis of Annual Operating Plans, disbursal of loans, etc. Chief Executive Officers (CEOs) of RHFL and RCFL were also actively reporting to him."

Investigation conducted under PMLA has revealed a...