ED will produce FTIL founder Jignesh Shah before a special anti-money-laundering court on WednesdayA file photo of founder and former chairman of Financial Technologies (India) Ltd (FTIL) Jignesh Shah. Photo: MintThe Enforcement Directorate (ED) on Tuesday arrested founder and former chairman of Financial Technologies (India) Ltd (FTIL) Jignesh Shah in the National Spot Exchange Ltd (NSEL) commodity exchange fraud. This is the second time Shah has been arrested in connection with the NSEL fraud. “Shah has been arrested for not cooperating with the investigative processes,” said a senior ED official on condition of anonymity. Shah will be produced before the special PMLA court on Wednesday by the ED, which filed its first chargesheet in the NSEL scam in April 2015.

Source: Mint July 12, 2016 17:03 UTC