Enforcement Directorate registers money laundering case against real estate group
The agency filed a criminal case under the provisions of the Prevention of Money Laundering Act (PMLA)
Apr 16, 2015
Source : The Economic Times

 

NEW DELHI: The Enforcement Directorate (ED) has registered a money laundering case against the directors and other associates of realty firm Vigneshwara group which has been accused of allegedly duping hundreds of investors to the tune of crores of rupees. 

 
Officials said the agency filed a criminal case under the provisions of the Prevention of Money Laundering Act (PMLA) after it detected that the firm had allegedly generated "proceeds of crime" by perpetrating the fraud. The Economic Offences Wing (EOW) of the Delhi police had registered an FIR against the said firm last year. 
 
"The ED case is based on the Delhi police FIR. The agency has detected some assets which have been created by the accused from the proceeds of crime generated through the fraud. These assets could later be attached under anti-money laundering laws," sources in the agency said. 
 
The statements of the accused will soon be recorded, they said. 
 
The Delhi police, early this year, had arrested two absconding directors of the group Sanjay Kumar Dahiya (36) and Daryao Singh (79) from a guest house in Dwarka here. 
 
The police had already arrested Sunil Dahiya, the Managing Director of Vigneshwara Group of Companies, on in October last year. He is presently in judicial custody. 
 
According to police investigation, the Vigneshwara Group of Companies had launched two commercial projects at Sector 8 in Manesar in Gurgaon and at Sector 74, Gurgaon. A large number of people had invested in the projects, but were allegedly cheated of their money. 
 
The EOW had received complaints from about 650 investors who have been allegedly cheated to the tune of Rs 260 crore by the directors of the accused company. 
 
It had further been alleged in all these cases that the accused directors of Vigneshwara Developers (P) Ltd namely Sunil, Sanjay and Daryao induced them through advertisements as well as personal assurances. 
 
The accused directors also induced various investors to enter into barter transaction whereby they were made to sell off their immovable properties to Vigneshwara Group of Companies and after making the payment against the sale consideration, got the same invested amount back, the police had alleged.

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