New Delhi: The ED on Wednesday said it seized “incriminating documents” after it raided a former managing director of the Industrial Cooperative Bank in Assam as part of a money laundering probe against him and others.
The searches were conducted at the residential and official premises of Subhra Jyoti Bharali. He is a former MD of Industrial Co-operative Bank Limited (ICBL), the federal agency said in a statement.
The Enforcement Directorate (ED) case of money laundering stems from an FIR filed against him and others by the Kamrup Police wherein it was alleged that, “Bharali, with the help of some other senior officials of the bank, allegedly committed financial misappropriation to the tune of Rs 9.5 crore.”
Incriminating documents, including several sale deeds in respect to the properties acquired in the name of the family members of the accused and details of various bank accounts were seized, it said.
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