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The Enforcement Directorate officials have arrested Jignesh Shah, the promoter of scam-ridden National Spot Exchange and Financial Technologies, for his suspected role in the Rs 5,600 crore scam in the spot exchange.
Shah who was called for questioning was arrested late on Tuesday, said sources.
He will be produced in the Prevention of Money Laundering Act court in Mumbai on Wednesday.
The exchange was shut abruptly in 2013 leaving about 80,000 investors high and dry.
FTIL in a statement late on Tuesday night said "We fail to understand why such a coercive step has been taken by the Enforcement Directorate when Shah has been fully co-operating with the investigation and has been going every time he has been called, including today, especially when ED’s own complaint has failed to establish any money trail to either Shah or 63 moons. We have full faith in Indian judiciary and sincerely believe that truth will prevail.”
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