The Enforcement Directorate (ED) on Thursday traced another case involving alleged laundering of black money to the tune of Rs. 500 crore at Oriental Bank of Commerce (OBC).
OBC transferred Rs. 500 crore through its accounts to Hong kong. Two people have been detained by the ED in the case and further details are awaited.
It may be recalled that Bank of Baroda recently got alleged in funds transfer case. CBI and the Enforcement Directorate have started investigation on the matter.
It is alleged that Rs. 6,172 crore black money was remitted from Bank of Baroda to Hong Kong camouflaged as payments for non-existent imports like cashew, pulses and rice.
It is also alleged that amount was deposited in 59 accounts of the bank’s Ashok Vihar branch (New Delhi) in cash as advance for import and the money was sent to some selected companies in Hong Kong.