A branch manager of the Kotak Mahindra Bank in Delhi was arrested by the Enforcement Directorate in connection with the money laundering probe into a criminal case launched after nine alleged fake accounts with deposits worth Rs 34 crore was detected post-demonetisation.
Officials said the agency arrested the manager of the bank’s branch, identified as Ashish Kumar, in the Kasturba Gandhi Marg area, late on Tuesday night after questioning.
“The manager has been arrested under the provisions of the Prevention of Money Laundering Act and will be produced before the court for further custody,” they said. The Enforcement Directorate registered an FIR under PMLA laws after taking cognisance of the FIR filed by the Delhi Police crime branch.
Police had also arrested two persons last week for allegedly depositing black money worth Rs 34 crore in nine fake accounts being operated in the Naya Bazar branch of Kotak bank.
A bank spokesperson said in a statement that it has already “suspended the services” of its employee.
“The bank has zero tolerance towards employees not adhering to its Code of Conduct, and takes strict measures against them,” the bank’s spokesperson Rohit Rao said in the statement. The bank also says it has a robust system of regularly and proactively filing necessary reports with the Financial Intelligence Unit (FIU) for all large transactions.
“As can be seen from the Bank’s actions, the bank has fully cooperated and communicated with the relevant authorities, and has demonstrated the highest standards of compliance,” the spokesperson said.