New Delhi, May 23: The Enforcement Directorate (ED) is carrying out searches at 15 locations across Delhi-NCR and Mumbai as part of an ongoing money laundering investigation. The case involves alleged financial fraud by Jaypee Infratech, Jaypee Associates Limited, and others, with accusations of misappropriating approximately Rs 12,000 crore from homebuyers and investors.
Sources reveal that the searches are being conducted at premises linked to Jaypee Associates and other real estate entities including Gaursons, Gulshan, Mahagun, and Suraksha Realty.
The ED is investigating charges of fund diversion and siphoning from real estate projects, which have reportedly caused severe financial distress to thousands of homebuyers.
