E-Paper
PF scam: ED likely to register FIR of money laundering
LUCKNOW The Enforcement Directorate (ED) is likely to register FIR under Prevention of Money Laundering Act (PMLA) in connection with money transactions of crores
LUCKNOW The Enforcement Directorate (ED) is likely to register FIR under Prevention of Money Laundering Act (PMLA) in connection with money transactions of crores exposed during investigation into UP Power Corporation Limited (UPPCL) employees’ provident fund investment scam.
The employees’ PF of Rs 4,122.5 crore was invested in Mumbai-based Dewan Housing Finance Corporation Limited (DHFL) between March 2018 and October 2019 in violation of norms and huge commission was allegedly earned by UPPCL officials through brokerage firms.
A senior Economic Offences Wing (EOW) official, who was associated with the probe since beginning, said deputy director Pramod Kumar of ED’s Delhi unit visited the EOW office here on Tuesday.
He said the ED official met EOW officials and collected different documents, including FIR related to money transactions that had surfaced so far. The ED official also sought details of different bank accounts and 14 brokerage firms involved in money transactions in the scam, he added.
The ED official confirmed that the FIR under PMLA will be registered in the matter against UPPCL authorities and other persons involved in the scam, he said. He said so far 14 people, including three UPPCL authorities, had been arrested after registration of FIR in the matter on November 2.
