ED arrests hawala trader Paras Lodha in money laundering case
The Enforcement Directorate on Wednesday arrested a Kolkata-based hawala trader Paras Mal Lodha in money laundering case.
The Enforcement Directorate said on Thursday that it arrested a Kolkata-based hawala trader Paras Mal Lodha for converting more than Rs 25 crore in old notes linked to businessman J. Shekhar Reddy and lawyer Rohit Tandon into new currency.
Lodha, who is a businessman with interests in real estate and mining, was arrested on Wednesday night after hours of questioning by the ED officials.
The EC said that Lodha was first intercepted by its sleuths at the Mumbai airport yesterday, based on a lookout circular, while he was reportedly trying to fly out.
ED will produce Lodha in a court here to obtain his further custody under the provisions of the Prevention of Money Laundering Act (PMLA)