Money Laundering Investigation Targets NCR-Based Real Estate Firms; Delhi-NCR, Bengaluru and Chandigarh Premises Covered
NEW DELHI, OCTOBER 23: The Enforcement Directorate (ED) on Friday carried out searches at multiple locations across Delhi-NCR, Bengaluru and Chandigarh as part of a money laundering investigation into an alleged fraud involving housing loans obtained in the names of Non-Resident Indians (NRIs).
According to agency officials, at least 13 locations were searched during the operation, which targeted two real estate companies based in the National Capital Region (NCR) and other suspected entities allegedly linked to the case.
The investigation centres on allegations that NRI housing loans were secured through forged documents and fraudulent means. Investigators are examining the suspected role of the companies and other individuals or entities allegedly associated with the transactions.
The searches form part of the ED’s efforts to investigate the alleged financial irregularities and trace possible proceeds of crime under the money laundering probe.
Further details regarding the findings of the searches, the identities of the companies involved, and any possible seizures or subsequent action were not immediately available.
The allegations remain subject to investigation, and further developments are awaited.(KNC)
