Enforcement Directorate arrests Kolkata-based businessman for 'cheating' SBI of Rs 95 crore : The Tribune India

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Enforcement Directorate arrests Kolkata-based businessman for 'cheating' SBI of Rs 95 crore

Kaushik Kumar Nath is arrested on March 30 and a special Prevention of Money Laundering Act court in Kolkata sends him to ED custody till April 10, the agency says

Enforcement Directorate arrests Kolkata-based businessman for 'cheating' SBI of Rs 95 crore

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PTI

New Delhi, April 1

The Enforcement Directorate on Saturday said it had arrested a Kolkata-based businessman under the anti-money-laundering law for allegedly defrauding the State Bank of India of Rs 95 crore.

Kaushik Kumar Nath was arrested on March 30 and a special Prevention of Money Laundering Act court in Kolkata sent him to ED custody till April 10, the agency said in a statement.

Nath, it said, availed credit facilities from the SBI by submitting "forged and fabricated" documents.

"The funds received in the guise of credit facilities were withdrawn in cash and used for purposes other than (those) for which they were sanctioned," it said.

The ED said the SBI was cheated of about Rs 95 crore. 

#enforcement directorate #State Bank of India SBI


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