The Enforcement Directorate (ED) has arrested Director of Hoewelai Jinsu, Hong Kong, SAR, China Ltd., Anup Nagaral under Prevention of Money Laundering Act (PMLA) in a case connected with fraud committed on banks under the guise of Merchant Trade. The ED had initiated money laundering investigation on the basis of FIR dated July 18, 2009, registered by the High Ground Police Station, Bengaluru City.
Nagaral, is Director of Hoewelai Jinsu, Hong Kong, SAR, China Ltd. in the buyer leg of tripartite merchandise trade. He is one of the accused in the Prosecution Complaint filed by ED on July 28, 2021 following which summons was issued against him, the ED said in a statement.
Further, Nagaral returned to India and appeared before the CBI. The CBI arrested Nagaral in December, 2021 and produced him before CBI Court where he was enlarged on bail, it said.
As Nagaral was not appearing before the PMLA court for trial, the Special PMLA Court issued Warrant of Arrest dated December 31, 2021.