Neeraj BaliChandigarh, Sept. 30 -- The Enforcement Directorate has uncovered what it alleges was a money-laundering route in which public funds siphoned off in the IDFC First Bank-AU Small Finance Bank fraud were channelled through jewellers' accounts as purported business transactions and corresponding amounts returned in cash after deduction of commission, officials said.
The disclosure followed searches at 14 premises across Chandigarh, Mohali and Panchkula on Tuesday as part of the ED's investigation under the Prevention of Money Laundering Act. The premises covered included those linked to Malik Jewellers, KLG Jewels and its associate entities, MB Gold Traders, Sham Jewellers and Sunder Jewellers, besides alleged middleman Gourav Kans...