ED arrests businessman for money laundering

New Delhi/Mumbai, May 3: The Enforcement Directorate has arrested Vijay Madanlal Choudhary, director of Zoom Developers, in connection with a money laundering case, the agency said on Wednesday.

"ED arrests Vijay Choudhary, director of Zoom Developers Pvt Ltd, under PMLA (Prevention of Money Laundering Act)," the agency tweeted.

Choudhary's name figures prominently on the wilful defaulters list, it said.

His company reportedly owes Rs 3,002 crore collectively to 26 state-owned banks.

In 2011, the Central Bureau of Investigation had suspected loan fraud by the company.

Later, ED registered a case and attached the company's properties, including those in California.