4 days ago
Influencer arrested in Rs 40 crore money laundering case linked to Reliance Capital
The Enforcement Directorate has arrested an Instagram influencer for being involved in a high-profile money laundering scam. Sandeepa Virk, who boasts overs 1.2 million followers was arrested for allegedly having links to Angarai Natarajan Sethuraman, former Director of the now-defunct Reliance Capital probe stems from an FIR by Punjab Police under cheating and criminal breach of trust charges. ED alleges that Virk, through misrepresentation and false promises, acquired properties and laundered illicit funds, using her website — under the veil of selling FDA-approved beauty to investigators, the site's products were non-existent, the payment system non-functional, and social media engagement minimal, pointing to a sham operation.
Searches at Sethuraman's residence revealed illegal communications with Virk and alleged fund found that in 2018, Rs 18 crore of public money from Reliance Commercial Finance Ltd (RCFL) was disbursed to Sethuraman in violation of lending norms, with principal and interest payments deferred, waivers granted, and no due from this, Reliance Capital sanctioned him a Rs 22-crore home loan, also in violation of prudential norms. Large portions of these loans remain unpaid and are suspected to have been siphoned incriminating documents have been seized, and statements of key associates, including Farrukh Ali, have been recorded. Virk was produced in court on August 12 and remanded to ED custody until August 14 for further agency is now probing whether Virk's lavish lifestyle, prominently showcased to her massive social media following, was funded through diverted Reliance-linked funds and other fraudulent a statement to India Today, Sethuraman refuted all the allegations. "These allegations are entirely baseless," he said while firmly denying any connection or involvement with Virk or any transactions related to claimed that the home loan he received from Reliance Capital was granted following due process and was secured by the property offered as collateral.- Ends
