ED has arrested a top functionary of a Karnataka-based cooperative society in Bangalore for his involvement in money laundering activities, reports PTI.
The accused Nanjundaiah the director of the Sree Souharda Cooperative Credit was arrested by the central agency under sections of the Prevention of Money Laundering Act (PMLA).
The PMLA has been filed based on three FIRs filed by the Bangalore police. against the accused earlier. The fraud involves diversion of Rs 180 crore to a group of companies.