Chennai, Oct. 3 -- The Enforcement Directorate (ED) has arrested two key accused in connection with the Rs.1,417.86 crore Unique Exports investment fraud case.
In a statement here the agency said ED Chennai Zonal Office-II, arrested the mastermind S.Naveen Kumar and S.Muthuselvam under Section 19 of the Prevention of Money Laundering Act, 2002 (PMLA), in connection with a money-laundering investigation related toan investment fraud involving M/s.Unique Exports and its associated entities.
The arrests came in the backdrop of the raids conducted by the ED at nine premises linked to Naveen Kumar and his associates on June 16 and 17 under Section 17 of the PMLA.
Both the accused were produced before the Special Court, PMLA and were remanded ...