PANAJI
The Enforcement Directorate (ED) on Friday raided the premises of two jewellery shop owners in connection with a money laundering case involving fraudulent bank loans worth Rs 2.63 crore.
Sources stated that the accused, identified as Hemant Raikar and Gundu Yellapa Kevlekar, allegedly availed of loans from different branches of UCO Bank in Goa between July 2019 and December 2021 by furnishing fake gold as mortgage.
Investigations have revealed that the loans were taken in different names to execute the fraud. The ED seized several documents and records from the premises during the searches.
