Rahim Rather’s son acquired three flats in Dubai and a Bungalow in the US by diverting loan money

Rahim Rather’s son acquired three flats in Dubai and a Bungalow in the US by diverting loan money

 

Srinagar, August 08: National Conference leader A R Rather’s son had acquired three flats in Dubai and one flat at North Carolina, United States of America after he did misappropriation of loans from Jammu Kashmir bank.

This was revealed by Enforcement Directorate in the ongoing investigation of Hilal Rather in an alleged Rs 177 crore loan fraud. According to officials, Hilal diverted loaned money to his company to enjoy foreign tours and acquired personal assets in India & abroad.

The ED raided at least 17 locations in Srinagar, Jammu, Delhi, and Ludhiana in connection with a money-laundering probe against Hilal Rather. The officials seized incriminating documents and digital evidence during the raids.

“Hilal Rather acquired three flats in his name and his family members in Dubai while a bungalow was acquired in the name of Hilal Rather and his wife in North Carolina, the USA by allegedly misusing the loan amount,” said an official. (CNS)

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