In the aftermath of the Central Bureau of Investigation (CBI), booking former Mumbai Police Commissioner, Sanjay Pandey, now the Enforcement Directorate (ED) has also booked him in a case concerned with the alleged phone tapping of certain National Stock Exchange (NSE) employees between 2009 and 2017. The ED has booked him under the provisions of the Prevention of Money Laundering Act (PMLA), reports stated.
Earlier the agency had questioned the retired IPS officer in regards to a case in 2018. Herein some brokers allegedly made windfall profits by manipulating the co-location facility of the bourse. They did so hand in glove with top officials of the NSE. The current ED case is in accordance with the recently registered CBI FIR against Pandey and his company iSec Securities, amongst other, accounts mentioned.
Based on narratives, the CBI had conducted raids at Pandey's residence as well as former NSE CEOs Chitra Ramkrishna and Ravi Narain, amongst others, regarding the case. The raids were held at 18 locations across Mumbai and other cities.
The agency alleged that in its new claimed corruption regarding the NSE co-location scam, Pandey's floated company was illegally tapping the phones of NSE employees and giving the accused the transcripts. The CBI case is supposedly based on a Ministry of Home Affairs complaint, reports cited.
According to accounts, those accused in the CBI FIR from NSE Mumbai entail Ramakrishna, Narain, Ravi Varanasi, then executive vice president of NSE, and Mahesh Haldipur, then head (premises). The body also booked Pandey, iSec Securities, its directors Santosh Pandey, Anand Narayan, Armaan Pandey, Manish Mittal, and company employee Arun Kumar Singh.
The CBI is reportedly already investigating Ramkrishna and Narain in the 2018 NSE co-location case where some brokers, in cohorts with certain officials of NSE, are claimed to have gotten quicker access to the bourses when they opened. This helped them allegedly attain significant profits.
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