Lucknow (Uttar Pradesh): The Enforcement Directorate (ED) has seized assets worth Rs 85 crore in connection with a money laundering case concerning the Lotus 300 Housing Project in Noida, officials said on Friday.
They said the ED has concluded its raids at multiple locations in the alleged Rs 426 crore fraud case.
On Tuesday and Wednesday, the probe agency conducted searches of at least 18 locations linked to the directors of Hacienda Projects Private Limited (HPPL), including Mohinder Singh, a former IAS officer who also served as Chief Executive official (CEO) of the Noida Authority. During the operation, the ED found a large amount of cash and diamonds worth crores, it stated in a press news release.
The properties raided by the ED were spread across Noida, Meerut, Delhi, Chandigarh, and Goa, and belonged to Mohinder Singh, firm promoters Surpreet Singh, Vidur Bhardwaj, Nirmal Singh, Aditya Gupta, and Ashish Gupta.
The ED claimed that during the raid it recovered Rs. 42.56 crore cash, gold and diamond jewellery worth Rs 29.35 crore, a solitaire diamond worth Rs. 5.26 crore, diamond jewellery worth Rs 7.1 crore, and property documents worth crores.
The ED investigation started in 2019 on the instructions of the Allahabad High Court after several FIRs were registered by the Economic Offences Wing (EOW) in New Delhi against HPPL, its directors, officials, and others for swindling and syphoning off the money of investors and home buyers and not providing them apartments as promised.
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