A special court in Mumbai on Wednesday granted the Enforcement Directorate (ED) permission to arrest Praful Lodha, who is currently in custody for multiple serious offenses, to investigate allegations of money laundering. The order allows the central agency to take custody of Lodha to unearth the money trail and identify the source of funds used for the acquisition of various properties.
Lodha, 62, was produced before the court via a production warrant from Arthur Road jail, where the ED moved an application seeking his arrest under the Prevention of Money Laundering Act (PMLA). The investigation into Lodha's financial dealings stems from several underlying criminal cases, including allegations of sexual assault, cheating, and criminal intimidation. The ED informed the court that Lodha allegedly lured victims with false promises of employment and subsequently exploited them.
A specific cheating case registered in Nashik, involving the defrauding of an investor of Rs 62.5 lakh, served as the scheduled offense for the money laundering case. The court's permission marks a significant step in the probe, enabling the ED to question Lodha in custody and trace the flow of illicit funds.
The case has drawn attention due to the severity of the allegations and the involvement of multiple criminal charges. The ED is expected to conduct a thorough investigation to establish the financial network behind the offenses.
