<h1>Chartered accountant arrested under PMLA for facilitating Rs 1,460-crore bank loan fraud through shell companies</h1> The Enforcement Directorate arrested a chartered accountant under the Prevention of Money Laundering Act for allegedly facilitating money laundering in a Rs 1,460-crore bank loan fraud case. The accountant reportedly operated shell companies to launder proceeds through fictitious transactions including bogus loans and share capital exchanges. The case involves a former bank CMD who sanctioned loans that became non-performing assets and allegedly received illegal gratifications through cash, properties, and luxury goods via shell companies. Recent searches also uncovered extortion activities targeting investigation subjects.