DHFL used special software to create fake profiles and launder money: ED in Wadhwan-Mirchi case

During its recent raids on the premises of Dewan Housing Finance Corporation (DHFL), the enforcement directorate (ED) recovered a customized software which was allegedly used to create around one lakh fictitious accounts and later launder money to these accounts. Kapil Wadhawan had allegedly siphoned off Rs 12,773 crore bank money with the help of 79 shadow entities, according to the Enforcement Directorate. ED officials are trying to trace the money trail by investigating details of the shadow entities.