Mumbai, Nov 20
The ED’s Mumbai unit has arrested a company’s promoter who, along with others, embezzled Rs 137 crore using fake Haryana agro deals purportedly for the 'Need to Feed program' of an NGO.
The Directorate of Enforcement (ED), Mumbai Zonal Office, arrested Ushik Gala, promoter of Suumaya Group of companies, under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002.
The investigation shows that funds received by Suumaya group entities were diverted by Ushik Gala to Delhi- and Haryana-based dummy agro-trader entities through an agent to falsely depict genuine procurement.