In a first, ED attaches land in US in loan fraud case
July 03, 2015  08:31
In the first such action, the Enforcement Directoratehas attached 1,280 acres of land in the United States in connection with one of the biggest bank loan frauds in the country.

The unprecedented move to attach the land in California worth Rs 1,000 crore was initiated by the ED's Ahmedabad zonal unit. "ED Indore attaches under the Prevention of Money Laundering Act 1,280 acres of land in California, USA, of Zoom Developers Pvt Ltd and Vijay Chaudhary in bank fraud cases," the central agency tweeted today.

ED officials said that it is for the first time that the agency had taken such an action in the US.
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