Lucknow: The Enforcement Department (ED) has begun detailed interrogation of Amrapali Builders group's Chief Finance Officer Chandra Prakash Wadhwa on Sunday who was linked in a multi-crore scam. ED also took Wadhwa into custody for four days.
According to reports, the ED officials have arrested Wadhwa from Delhi on Friday in connection with Prevention of Money Laundering Act (PMLA) case lodged against Amrapali Builders in 2019.
"Wadhwa will be questioned about different investments and shell companies of Amrapali Builders in Greater Noida. The investigation so far had revealed that the group had floated several shell companies to channelize the money collected from investors on the pretext of providing flats," an official said.
The money was illegally transferred to different shell companies with intention of cheating, the official added.
On July 23, 2019, the Supreme Court ordered the ED to register the case against Amrapali Groups of Companies and investigate accordingly. Also, the ED was also directed to file an investigation report every three months.
The Supreme Court had earlier conducted a forensic audit of the case on the petition of flat buyers. In which the directors of Amrapali Groups of Companies were found guilty of manipulating the number of flat buyers.
The Supreme Court also found that the companies of Amrapali groups have committed the crime under the prima facie FEMA and money laundering.
