The Enforcement Directorate (ED) has registered a money laundering case against S K Jain (pictured), former chairman and managing director of Syndicate Bank, and others who were arrested by the Central Bureau of Investigation (CBI) last year, in a bribery and corruption case.
Sources said the agency slapped charges under the Prevention of Money Laundering Act, taking cognisance of the CBI FIR, which accused Jain of receiving a Rs 50-lakh bribe through conduits and abusing his official position to enhance the credit limits of some companies, in violation of procedures.