Another forex scam to the tune of over Rs 500 crore has come to light involving Oriental Bank of Commerce and Axis Bank after the Enforcement Directorate arrested a person under the Prevention of Money Laundering Scam.The ED has arrested one Manish Jain after it was detected that huge sum of money were transferred from Oriental Bank of Commerce and Axis Bank through 70 fake bank accounts,

The ED has conducted searches in various locations resulting in recovery and seizure of incriminating documents and material.

Earlier today, the Serious Fraud Investigation Office (SFIO) initiated a probe into the alleged Rs 6,100 crore black money transaction case involving a Delhi branch of Bank of Barod