New Delhi, Sep 8 (PTI) Fresh assets worth more than Rs 100 crore of a Uttar Pradesh-based realtor and his company have been attached under the anti-money laundering law in a cheating case, the Enforcement Directorate said on Monday.
The properties belong to ‘The Aranya Project’ being developed by Unnati Fortune Holdings Limited (UFHL) of Anil Mithas, it said.
Mithas, a Ghaziabad-based realtor, was arrested by the federal probe agency in April and he is currently under judicial custody.
A chargesheet was filed by the ED against him before a special Prevention of Money Laundering Act (PMLA) court in Ghaziabad in May.
In a statement, the ED said probe found that there has been “diversion” of about Rs 126.30 crore by Mithas through various “colourful devices” of money laundering such as equity investment, preference shares, debentures/bonds, loans and advances and security deposits to related party during the offence period from 2011 to 2019 out of the funds collected from homebuyers/investors in several bank accounts of UFHL.
“These diversion/siphoning of the funds of UFHL have been prejudicial to the project causing non-completion of the projects,” the agency said.
Besides, misappropriation of the funds of homebuyers/investors caused huge loss to the financial institutions and homebuyers and wrongful gain to the directors and promoters, the ED alleged.
Assets worth Rs 26 crore were attached by the ED as part of this investigation earlier. PTI NES KVK KVK
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.