March 8, 2014 9:00 AM

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ED arrests CEO of a defaulting firm on money laundering charge in NSEL scam case

The Enforcement Directorate, ED, Friday arrested the CEO of a defaulting firm on money laundering charge in connection with its probe in the National Spot Exchange Limited, NSEL, scam case. Official sources said, Gagan Suri, CEO of Yathuri Associates, was arrested by Enforcement Directorate sleuths in Mumbai after they found that his role in the scam needs to be probed.This is the first arrest made by the central probe agency in this scam, which is also being investigated by the Economic Offences Wing of the Mumbai Police for alleged large-scale mismanagement of depositor funds.Chandigarh-based Yathuri Associates has allegedly defaulted the bourse close to 360 crore rupees and is already under the scanner and action by the Economic Offences Wing.

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