Sat, 13 Aug 2022

New Delhi [India], July 5 (ANI): The Enforcement Directorate (ED) on Tuesday questioned former Mumbai Police Commissioner Sanjay Pandey for nearly eight hours in National Stock Exchange (NSE) co-location scam case.

Pandey, who retired as Mumbai Police Commissioner last week, reached the ED headquarters around 11.20 am here at ED headquarters and left around 6.40 pm.

Pandey reached ED headquarters in an auto-rickshaw, dodging media persons waiting for his appearance since morning, and left in a private taxi.

Dressed in a sky-blue shirt and black pants, Pandey was deposed before the investigators following ED summons against him.

Pandey was questioned for almost two-and-a-half hours and allowed a lunch break around 2 pm. The second part of the questioning started after the lunch break.

Meanwhile, the federal probe agency recorded Pandey's statement under Section 50 under provisions of the Money Laundering Act (PMLA) in the NSE co-location scam to know how an audit company incorporated in 2001 by the retired Mumbai Police chief, who did not raise the red flag that the NSE servers were compromised.

The compromise had allowed one of the trading companies to get unfair access to the system, resulting in windfall profits.

The case is already being probed by the Central Bureau of Investigation (CBI) since 2018.

It is alleged that the firm incorporated by Pandey was one of the IT companies tasked with conducting security audits at NSE during 2010 to 2015 when the co-location scam is believed to have taken place. (ANI)

Sign up for Raleigh News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!