ED Arrests Accused in Multi-State Ponzi Scheme

The Enforcement Directorate arrested Shivanand Neelannavar on August 13 under Section 19 of the Prevention of Money Laundering Act, 2002, in relation to a multi-state, multi-crore ponzi scheme.

Neelannavar was produced before the Special Court (PMLA) in Mangaluru, which remanded him to ED custody for 12 days until August 24.