New Delhi:
Six persons have been arrested in the case involving alleged laundering of black money to the tune of Rs 6000 crore at a branch of Bank of Baroda.
Four of the arrests were made by the Enforcement Directorate and two by the Central Bureau of Investigation, sources said.
Sources in the two agencies -- which have been working on the case -- said money was being transferred through 59 accounts at the bank's Ashok Vihar branch to companies in Hong Kong and Dubai. The money was disguised as payments for imports.
A search revealed that addresses given by at least 50 companies for bank records were fake.
Interrogation of the bank officials revealed that some of the employees acted as middle-men for these companies.
The men arrested by the CBI are branch head Suresh Kumar Garg, the branch head and Jainis Dubey, the foreign exchange head, sources said.
The persons arrested by the Enforcement directorate include Kamal Kalra, Chandan Bhatia, Gurucharan Singh and Sanjay Aggarwal, who were allegedly involved in the transaction of 15 accounts.
Mr Kalra allegedly handled the business for a dozen companies. According to officers, during his questioning, he said he worked in the Forex Department of HDFC bank and used to get a commission.
According to sources, during his interrogation, Mr Bhatia allegedly said he worked with Gurucharan Singh and both of them exported finished goods.So far, he had allegedly laundered money to the tune of Rs 420 crore.
Bank of Baroda executive director BB Joshi had told NDTV that the bank had detected the irregularities and alerted the Enforcement Directorate.