Branch Manager, accused under money laundering act has been sent to ED's custody till January 2.

Ashish,  branch manager of Kotak Mahindra Bank, Kasturba Gandhi Marg in central Delhi arrested on 28 December under the provisions of the Prevention of Money Laundering Act. it is alleged that he is one of the conspirator in conspiracy to convert the money in to white,  nine alleged fake accounts were detected in which deposits worth Rs 35 crore were made after demonetization.
Enforcement Directorate while seeking his remand for 14 days told the court that it was a “huge conspiracy” and the money trail and the illegal proceeds of money laundering has to be traced. He  charged huge commission by allowing demonetized currency amounting to about Rs 35 crore to be accepted by the bank and had generated pay orders and demand drafts in exchange.
However, court sent a branch manager of Kotak Mahindra Bank to Enforcement Directorate custody till January 2.