ED: Former Kotak VP used stolen money to buy luxury cars
The Enforcement Directorate (ED) has submitted a prosecution complaint against nine individuals involved in the Kotak Mahindra Bank fraud case, while also seizing assets valued at ₹131.13 crore. The agency claims that Pushpinder Singh, who served as a Deputy Vice-President at the bank, embezzled funds belonging to the Municipal Corporation of Panchkula by creating fraudulent bank accounts. According to the ED, the misappropriated money was spent on high-end items, including Porsche and BMW vehicles, expensive watches, and furniture.
by shortkt.com✓