ED Cracks Down on Sahara Group's Alleged Money-Laundering Operations
The Enforcement Directorate arrested two key individuals linked to the Sahara Group in a money-laundering investigation. These arrests reveal alleged clandestine property sales used to siphon off funds. The case involves multiple FIRs and allegations of operating a Ponzi scheme through various group entities.
- Country:
- India
The Enforcement Directorate (ED) has intensified its probe into the Sahara Group by arresting two individuals integral to the group's operations. The arrests are part of a broader money-laundering investigation targeting the business activities and financial malpractices of the conglomerate.
Identified as Vailaparampil Abraham and Jitendra Prasad Verma, these individuals allegedly played crucial roles in facilitating covert property sales and directing significant cash transactions. These transactions are believed to be instrumental in obscuring the origins and misuse of illicit funds.
The probe has uncovered evidence suggesting that Sahara Group's properties were sold clandestinely, with part of the proceeds being siphoned and obscured under various Ponzi-like financial schemes. Recent court appearances have seen the accused remanded into ED custody. This is in connection to over 500 FIRs suggesting fraud and financial manipulation by Sahara's entities.
(With inputs from agencies.)
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