Enforcement Directorate Seizes Assets in Jaypee Money Laundering Case

The Enforcement Directorate (ED) announced the seizure of Rs 1.70 crore in cash and crucial documents during a series of raids linked to an ongoing investigation into an alleged homebuyers' fraud case. The entities involved include Jaypee Infratech Ltd (JIL) and Jaiprakash Associates Ltd (JAL).

Searches were executed across 15 locations in Delhi, Noida, Ghaziabad, and Mumbai under the Prevention of Money Laundering Act. The raids targeted the offices and premises of JAL, its affiliates, and key business associates such as Gaursons India Pvt Ltd, Gulshan Homz Pvt Ltd, and Mahagun Real Estate Pvt Ltd.

This money laundering probe follows FIRs by the Delhi and Uttar Pradesh Police Economic Offences Wing. Allegations include a Rs 12,000 crore fraud involving dishonest inducement for investment in residential projects like Jaypee Wishtown and Jaypee Greens, implicating top officials from JAL and JIL.

(With inputs from agencies.)