The Enforcement Directorate on Monday said it had attached Rs. 13.21 crore lying in various bank accounts linked to suspected conman Sukesh Chandrasekhar, who has been arrested in cheating cases.
An official release said the Directorate registered a case under the Prevention of Money Laundering Act (PMLA), based on a case filed by the Central Crime Branch wing of the Chennai City Police.
Sukesh was accused of committing offences in collusion with Jagadeesha, the then Chief Manager of Canara Bank, Ambattur SME branch and M. Balasubramanian, Managing Director of M/s Future Techniks Private Limited, Chennai.
The ED said Jagadeesha violated bank guidelines by permitting overdrawals to the tune of Rs. 19 crore from the account of Future Techniks Ltd.
The funds were transferred to various other accounts of the company, held in various banks at Mumbai. All the accused were arrested and lodged in prison.