30 July 2024

The Directorate of Enforcement (ED) in Hyderabad has filed a Prosecution Complaint under the Prevention of Money Laundering Act against M Pratap Reddy and N Srinivasulu, a Canara Bank manager. They are accused of orchestrating a bank fraud scheme involving forged documents to secure agricultural loans. The investigation revealed substantial financial losses to the bank, resulting in legal actions and asset seizures.

PREVENTION OF MONEY LAUNDERING ACT, 2002