The Enforcement Directorate arrested former Andaman and Nicobar MP and Congress leader Kuldeep Rai Sharma, 57, along with bank MD K Murugan and loan officer K Kalaivanan, in a money laundering case linked to alleged cooperative bank loan fraud, media reports say.
These are the first-ever arrests by ED under the anti-money laundering law in the Union Territory.
Sharma, a former chairman of the Andaman Nicobar State Cooperative Bank, and the others were remanded to eight days’ custody by a PMLA court as the probe into the alleged fraud continues.