The Enforcement Directorate (ED) has attached assets worth ₹44 crore belonging to Haryana Congress MLA Rao Dan Singh and his son in connection with a money laundering case linked to a bank fraud. The assets include flats in Gurugram and land in Haryana, Delhi, and Rajasthan. The ED alleges that Rao Dan Singh and his family members received ₹19 crore from funds allegedly diverted as part of a ₹1,392 crore bank loan fraud committed by Allied Strips Limited.
George Helmy, former chief of staff for New Jersey Governor Phil Murphy, was sworn in as the temporary replacement for former Senator Bob Menendez, who resigned after a bribery conviction. Helmy will serve until the November election, where Democratic Representative Andy Kim is favored to win the seat. Meanwhile, a businessman convicted alongside Menendez in the bribery case has pleaded guilty to separate bank fraud charges.
The Enforcement Directorate (ED) has attached assets worth over ₹5,000 crore in a money laundering investigation linked to alleged bank loan fraud by Amtek Group. The insolvent automotive equipment manufacturer is suspected of defrauding banks of ₹27,000 crore. The ED’s actions involve attaching farmhouses, vast agricultural and industrial land, and shares and debentures. This follows the arrest of Amtek Group promoter Arvind Dham in July and the Supreme Court’s directive to investigate the case in February.
Shan Hanes, the former CEO of Heartland Tri-State Bank, has been sentenced to 24 years in prison for his role in a $47.1 million crypto scam. Hanes was convicted of embezzlement, diverting bank funds into crypto accounts controlled by scammers. This led to the bank’s collapse, making it one of five banks to close in 2023. Hanes was caught up in a ‘pig butchering’ scam, where he was lured into making crypto investments with promised returns, which he never received.
A 27-year-old software engineer from Pune lost Rs 20 lakh to online fraudsters who impersonated Mumbai crime branch officers. They framed him in a drug-related parcel case and misused his personal details to secure a loan, which they then diverted to other accounts.
The Enforcement Directorate (ED) conducted searches at over 35 locations in Delhi-NCR, Mumbai, and Nagpur as part of a money laundering investigation against the Amtek Group and its promoters. The probe is linked to an alleged bank loan fraud exceeding ₹20,000 crore, involving the group’s entity ACIL Limited. The ED suspects that loan funds were misappropriated for investments in real estate, foreign ventures, and new businesses, while manipulating financial records to secure additional loans and avoid being classified as non-performing assets (NPAs).
Kevin M. Kennedy, a former golf pro in Springfield, was sentenced to 13 months in prison for committing tax and bank fraud. This sentence concludes a lengthy investigation that drew extensive attention from the city government.
