NSEL case: FTIL founder Jignesh Shah arrested by ED

The officials from Enforcement Directorate (ED) on Tuesday arrested Financial Technologies India Limited (FTIL) founder Jignesh Shah in the National Spot Exchange Limited (NSEL) money laundering case. 

The ED officials stated that Shah would be produced before a designated court on Wednesday for custody.

Earlier in April this year, the agency had charge-sheeted 68 persons in connection with the case including Shah, MCX-SX's Joseph Massey and former NSEL CEO Anjani Sinha.
The ED had also included the list of attachments of assets it had made during the course of investigation explaining how NSEL funds were laundered and were allegedly illegally ploughed into purchase private properties.
The agency had registered a criminal case under the Prevention of Money Laundering Act (PMLA) in 2013 to probe the case along with Mumbai Police's Economic Offences Wing (EOW).
NSEL has been facing a payment crisis as nearly 13,000 of its investors allegedly lost Rs 5,600 crore after the alleged fraudulent practices adopted by Shah and others.