Fraud: ED attaches assets of Gurugram realty group
The ED has attached a villa, a hotel, and a resort, besides land parcels and deposits worth over Rs 50 crore, in connection with a homebuyers’ fraud” linked money laundering probe against Gurugram-based realty firm Ocean Seven Buildtech Pvt Ltd (OSBPL).
The Enforcement Directorate, in a statement, said that the promoter and key decision-maker of the company, Swaraj Singh Yadav, played a “central role” in orchestrating the scheme and in deliberately diverting funds collected from homebuyers for the construction of houses.
Yadav was arrested by the central probe agency in November as part of the investigation.
The attached assets include a villa, a hotel and resort, several office spaces, and multiple land parcels located in Gurugram (Haryana), Himachal Pradesh, and Maharashtra, totalling Rs 49.79 crore in value.
The agency also seized Rs 1.78 crore in cash and deposits held in bank accounts of Yadav, the real estate company, and related entities. The total value of these assets is Rs 51.57 crore, the agency said.
