An illegal money supply network has been busted by the anti-terror squad of the Uttar Pradesh Police. Confirming the same, UP ATS Inspector General Asim Arun said that 10 people have been arrested in connection with the case, which has its links to Pakistan.
He further said that that some people in Pakistan were in touch with two persons from Uttar Pradesh and Madhya Pradesh. They were asked to open bank accounts based on fake identification documents.
According to the police, financial transaction worth Rs 10 crore was done in the bank accounts opened with the help of fake documents.
The money that was deposited in these accounts came from neighbouring Nepal and Pakistan, and from Qatar. The flow of the money was controlled by persons in Pakistan, said police.
This comes at a time when the Indian banking system has been hit by the Punjab National Bank (PNB) scam, involving absconding billionaire jeweller Nirav Modi and Gitanjali’s Mehul Choksi.
Country's second-largest state lender Punjab National Bank (PNB) has been defrauded of over Rs 12,700 crore by fraudulent use of Letters of Undertaking (LoUs).