The Enforcement Directorate (ED) arrested Hindamata cinema owner Sanjay Jain late on Monday in connection with an INR 500 Cr fraud case.
The main culprit in the fake remittance scam is still on the run.
According to reports, Jain, one of the owners of Mumbai’s Hindmata cinema, has been booked under relevant sections of Prevention of Money Laundering Act, 2002.
As per reports in ‘The Freepress Journal’, an ED official alleged that the accused used fake bills in three companies including Yogeshwar Diamonds, Kanika Gems and Shree Charbhuja Diamonds flouted banking laws and had shelved crores of bank loan to commit the remittance scam.
The case was registered a couple of years ago.
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