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    Vikshita Vitthal Gujaran in News

    15-May-2023 10:09 AM


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    Three top brokers face multiple probes including for money laundering, fraudulent trades

    Three top brokers of the country have come under the scanner of multiple regulatory and enforcement agencies, including for suspected money laundering and fraudulent trading activities amounting to several thousands of crores of rupees, senior officials said on Sunday.

    The officials also said that the three brokers, whom they refused to identify citing the ongoing nature of the investigations, have also been found to have been connected to PEPs (politically exposed persons) and the role of a key family member of a senior political leader in a key industrial state is also being investigated.

    The investigations have been underway for 4-5 years on multiple fronts against the three top brokers, who head organisations with businesses spread across multiple segments of the capital markets and the financial services sector including brokerage, investment advisory services, portfolio management, asset management fund and non-banking financial services.

    Source - https://www.livemint.com/news/india/three-top-brokers-face-multiple-probes-including-for-money-laundering-fraudulent-trades-11684075285467.html