CBI registers money laundering cases against 19 companies

The investigative agency said there are 700 advance remittances made for imports through various current accounts which were opened in January 2015 to May 2015 making it to Rs 424.58 crore.

The Central Bureau of Investigation (CBI) has registered a case against 19 companies which reportedly sent more than Rs 424 crore in foreign remittances via 700 transactions, in what is being suspected to be money-laundering through shell companies.

The CBI alleged that officials of the Punjab National Bank (PNB) of Mint Street Branch in Chennai during 2015 entered into a criminal conspiracy with 19 accused companies which were account-holders in the branch, according to a Press Trust of India report
The investigative agency said there are 700 advance remittances made for imports through various current accounts which were opened in January 2015 to May 2015, with total transactions amounting to Rs 424.58 crore.

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