Syndicate bank loan fraud: ED arrests ‘key conspirator’ in case

“The accused, identified as Himanshu Verma alias Himansh Verma, a resident of Chandigarh, was arrested on October 15. He was produced before a special court in Jaipur, and he was sent to 10-days police custody till October 25,” the ED said in a statement.

The ED’s Jaipur-based Zonal Office had initiated a money laundering investigation in the case against the officials of erstwhile Syndicate Bank and others under the Prevention of Money Laundering Act, 2002, based on the First Information Reports registered and charge sheet filed by the CBI.

“During investigation, conducted by ED, it has been revealed that Himanshu was a key associate of Bharat bomb and he received around Rs 85 crore proceeds ofcrime generated out of the fraud,” the agency further states.

The ED has attached various properties worth Rs 14.88 crore of Himanshu and his family. He allegedly received proceeds of crime in various bank accounts through a complex maze of transactions for placement, layering and integration of the tainted funds.