Jaipur : The special court for ED cases has issued arrest warrants against Meenakshi Modi, Neha Modi, Lalita Rajpurohit and Vinay of Jaipur Adarsh Credit Cooperative Society. The court has issued summons against Priyanka Modi and asked the Mumbai Police Commissioner to serve it. ED had detected irregular transactions worth more than Rs 3800 crore in the investigation of Adarsh Credit Cooperative Society. ED investigation had revealed that the main accused Mukesh Modi, in connivance with his relatives and associates, withdrew money from investors’ accounts and later distributed fake loans through inter-link fake transactions.
ED is investigating money laundering
The ED had started a money laundering investigation based on the fraud case registered by SOG against the society. In this case, ED has also attached property worth crores of rupees of the society. In fact, Mukesh Modi and Rahul Modi laid the foundation of Adarsh Credit Co-operative Society in the year 1999 in Sirohi district of Rajasthan and opened its office in Ahmedabad. After this, the process of getting these people to invest in the society started, which continued till 31 August 2016. Meanwhile, 806 branches of the society were opened and the fraud business was spread from Gujarat and Rajasthan to 28 states and four union territories. Maximum of these 309 branches were in Rajasthan.
