ED to investigate Franklin Templeton, senior officials for money laundering

ED to investigate Franklin Templeton, senior officials for money laundering

In April last year, Franklin Templeton had shut down its six debt mutual fund schemes citing redemption pressures and lack of liquidity in bond market in the wake of the COVID-19 pandemic.

Advertisement
A forensic audit of Franklin Templeton showed that its officials sold their investments in mutual fund schemes just before their closure.A forensic audit of Franklin Templeton showed that its officials sold their investments in mutual fund schemes just before their closure.
BusinessToday.In
  • Mar 3, 2021,
  • Updated Mar 3, 2021 6:05 PM IST

The Enforcement Directorate (ED) has registered a case of money laundering against asset management company Franklin Templeton and its senior officials.

In April last year, Franklin Templeton had shut down its six debt mutual fund schemes citing redemption pressures and lack of liquidity in bond market in the wake of the COVID-19 pandemic.

Advertisement

The ED has registered an Enforcement Case Information Report (ECIR) against Franklin Templeton based on a First Information Report (FIR) filed at the Chennai Police Economic Offences Wing, MoneyControl reported citing multiple sources.

SC orders Franklin Templeton to pay Rs 9,122 crore to 6 debt schemes' unitholders

The Enforcement Directorate (ED) has registered a case of money laundering against asset management company Franklin Templeton and its senior officials.

In April last year, Franklin Templeton had shut down its six debt mutual fund schemes citing redemption pressures and lack of liquidity in bond market in the wake of the COVID-19 pandemic.

Advertisement

The ED has registered an Enforcement Case Information Report (ECIR) against Franklin Templeton based on a First Information Report (FIR) filed at the Chennai Police Economic Offences Wing, MoneyControl reported citing multiple sources.

SC orders Franklin Templeton to pay Rs 9,122 crore to 6 debt schemes' unitholders

Read more!
Advertisement