https://www.taxtmi.com/news?id=71899 Money laundering proceedings under the Prevention of Money Laundering Act concern a former senior executive of Reliance Communications and another accused in an alleged bank loan fraud case. The allegations include concealment, layering and diversion of proceeds of crime through foreign subsidiaries and offshore entities, purchase and sale of a Manhattan condominium during the insolvency process, and routing of sale proceeds through an asserted sham investment arrangement. The allegations also include personal diversion of funds for overseas education-related payments. en-us Fri, 27 Mar 2026 19:01:08 +0530 Fri, 27 Mar 2026 19:01:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=71899 Money laundering proceedings under the Prevention of Money Laundering Act concern a former senior executive of Reliance Communications and another accused in an alleged bank loan fraud case. The allegations include concealment, layering and diversion of proceeds of crime through foreign subsidiaries and offshore entities, purchase and sale of a Manhattan condominium during the insolvency process, and routing of sale proceeds through an asserted sham investment arrangement. The allegations also include personal diversion of funds for overseas education-related payments. News - Fri, 27 Mar 2026 19:01:08 +0530 https://www.taxtmi.com/news?id=71899