The court passed the order on June 15, on a bail petition moved by V Sudalaimuthu, identified by the ED as 'the mastermind and architect' of a 2020 scam where private persons had impersonated government officials to fraudulently move term deposits of the Chennai Port Trust (CPT) to private accounts.
Around 100 crore of such deposits were illegally moved and a loss of 45.4 crore was alleged. After an initial FIR filed by CBI, ED had initiated a probe under the Prevention of Money Laundering Act (PMLA) in March 2022 and arrested 11, including the petitioner.
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