The Enforcement Directorate (ED) intensified its investigation into a massive Rs 500-crore cooperative bank fraud in the Andaman and Nicobar Islands, arresting a local hotelier on Wednesday. The individual is accused of securing hefty loans through fraudulent means for business purposes, officials from the agency confirmed.

This arrest comes after the ED detained former Andaman and Nicobar Islands MP and Congress leader Kuldeep Rai Sharma, alongside two others, last month. Allegedly, Sharma and other bank officials conspired to sanction illegitimate loans, flouting established banking procedures, with the intent of not repaying, causing significant financial loss to the bank.

According to the ED, these accused facilitated loans via shell companies, exploiting their positions within the A

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