Andhra Bank official arrested in Rs 5,000 crore loan fraud case

Vijayawada: A former Director of Andhra Bank, Anup Prakash Garg, was on Saturday arrested for his alleged involvement in money laundering case. 

According to the officials, the bank fraud is said to be to the tune of Rs 5,000 crore. A Gujarat-based pharma firm is also involved in the case. 

It may be recalled that a Delhi-based businessman named Gagan Dhawan was arrested in November last year under the Prevention of Money Laundering Act (PMLA). Prakash Garg has been named as an accused in the case by the Enforcement Directorate and the CBI.