Enforcement Directorate (ED) has registered a case against senior officials of American MNC and mutual fund investment giant Franklin Templeton on basis of an FIR registered by Chennai Economic Offences Wing in September, last year.
ED has started scrutinizing money laundering against Franklin Templeton for allegedly defrauding millions of investors after the fund house abruptly closed down six of its debt schemes estimated at Rs.25,000 crore, in April last year.
A forensic audit of the accounts has revealed that officials of the company sold their investments in mutual fund schemes just before their closure. Franklin Templeton is now under the scanner of ED and further investigations are on. Officials from the company refused to divulge any details of the case to media.
