Enforcement Directorate arrests CA in Shakti Bhog bank fraud case

ED initiated money laundering investigation on the basis of an FIR registered by CBI against Shakti Bhog Foods Limited.

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New Delhi: The Enforcement Directorate has arrested Raman Bhuraria, CA for his assistance and complicity in Rs 3269 crore bank fraud of Shakti Bhog Foods Limited.

He was booked under the provisions of the Prevention of Money-laundering Act, 2002 from Delhi on August 13. 

This arrest was in continuation of the rejection of his anticipatory bail by the Hon’ble Special Court and searches conducted by the Department on various locations pertaining to the arrestee. 

During the search action various incriminating documents & digital evidence have been recovered. 

ED initiated money laundering investigation on the basis of FIR registered by CBI against Shakti Bhog Foods Limited and others, for criminal conspiracy, cheating and criminal misconduct. 

The allegations against the accused include his active assistance and involvement in the bank fraud by way of round tripping through related entities. 

Siphoning of the funds was being done through fictitious sales and purchases through various dummies and other entities.

After arrest, he was produced before the Hon’ble Special Court on August 13 and the Hon’ble Court granted his custody to ED till August 20.