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Hindustan Times
2 days ago
- Business
- Hindustan Times
Rohtas Projects fraud: ED raids six locations in Lucknow, two in Delhi
The Enforcement Directorate (ED) on Wednesday raided eight premises, six in Lucknow and two in Delhi, in connection with an alleged real estate fraud involving Rohtas Projects Limited, officials confirmed. The case stems from an Enforcement Case Information Report (ECIR) registered by the ED in 2021, based on 48 FIRs filed by aggrieved buyers. The number of FIRs has since risen to 87. (For representation) The case involves hundreds of home and commercial space buyers allegedly duped by the company's promoters. Officials said the ongoing searches aim to gather crucial documents and digital records to trace the proceeds of crime (POC) and facilitate further legal action. The POC is estimated at ₹248 crore, according to a forensic audit conducted by the Uttar Pradesh Real Estate Regulatory Authority (UP RERA). The case stems from an Enforcement Case Information Report (ECIR) registered by the ED in 2021, based on 48 FIRs filed by aggrieved buyers. The number of FIRs has since risen to 87. The three promoter brothers -- Piyush Rastogi, Paresh Rastogi and Deepak Rastogi -- have been on the run for the past four years, hindering property attachments due to lack of evidence and non-compliance. UP RERA had earlier de-registered multiple Rohtas projects for non-compliance and financial irregularities. The alleged scam came under scrutiny in 2019 when hundreds of buyers claimed the promoters had collected crores of rupees for housing and commercial units that were either delayed indefinitely or never delivered. Several projects in Lucknow, including the prominent Rohtas Plumeria, were left incomplete, sparking legal action and public protests. On July 2, 2022, properties worth ₹116.23 crore belonging to Rohtas Builders were attached in connection with an FIR registered under Section 14(1) of the UP Gangsters Act at Hazratganj police station in Lucknow. The FIR was lodged against owners Paresh Rastogi and his brother Piyush Rastogi, Pankaj Rastogi and Nitin Bhatia. Police said the Lucknow Police Commissionerate issued the attachment order on June 14. A senior Lucknow police official said 82 FIRs relating to fraud, forgery and criminal breach of trust had been lodged against Paresh Rastogi and his aides at five police stations since 2017. Of these, 60 were registered at Hazratganj police station, 18 at Vibhuti Khand, two in Chinhat, and one each in Gautam Palli and Gosainganj. Attached assets include buildings, clubs, cars and other properties.
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Business Standard
3 days ago
- Business Standard
Andhra liquor scam: Kickbacks laundered through employees, say police
A chargesheet filed by the Andhra Pradesh police in connection with the alleged Rs 3,500-crore liquor scam in a local court alleges that the kickbacks were systematically laundered through low-profile individuals, such as office boys or employees. The Special Investigation Team (SIT) probing the alleged liquor scam filed a supplementary chargesheet on Monday. "During the course of investigation, it was revealed that the accused have systematically laundered the kickback amount with the help of low-profile individuals who were working as office boys or employees in the companies owned by the accused," officials said quoting the chargesheet. "Such employees and individuals acted as couriers and mules for depositing illicit cash into a network of bank accounts linked to the syndicate," they added. This pattern of cash layering and circulation demonstrates a deliberate attempt to conceal the origin of crime proceeds, constituting a classic case of structured money laundering and concealment under the garb of petty deposits, they further said. A portion of the liquor kickbacks was transferred to the employees and associates of the accused as salary, they further said adding it was also observed that several of such low-profile individuals were made to send the cash deposited into their account to other accused. The SIT probing the alleged liquor scam arrested several people, including YSRCP Lok Sabha member PV Midhun Reddy, in the case. In May, the Enforcement Directorate also filed a money laundering case to investigate the alleged liquor scam. The federal probe agency has filed an Enforcement Case Information Report (ECIR) under sections of the Prevention of Money Laundering Act (PMLA) to probe alleged irregularities in the sales of liquor in the state. The previous chargesheet filed last month mentioned former chief minister YS Jagan Mohan Reddy as the recipient of kickbacks averaging Rs 50-Rs 60 crore per month. The 305-page chargesheet, however, stopped short of naming Jagan accused. When contacted, former minister and senior YSRCP leader Ambati Rambabu told PTI that all the allegations made in the chargesheet are baseless and created ones.
Time of India
3 days ago
- Business
- Time of India
Andhra liquor scam: Kickbacks ''systematically" laundered through office boys or employees, say police
A chargesheet filed by the Andhra Pradesh police in connection with the alleged Rs 3,500-crore liquor scam in a local court alleges that the kickbacks were systematically laundered through low-profile individuals, such as office boys or employees. The Special Investigation Team (SIT) probing the alleged liquor scam filed a supplementary chargesheet on Monday. Finance Value and Valuation Masterclass Batch-1 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 2 By CA Himanshu Jain View Program Finance Value and Valuation Masterclass - Batch 3 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals By Vaibhav Sisinity View Program Finance Value and Valuation Masterclass - Batch 4 By CA Himanshu Jain View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program "During the course of investigation, it was revealed that the accused have systematically laundered the kickback amount with the help of low-profile individuals who were working as office boys or employees in the companies owned by the accused," officials said quoting the chargesheet. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like "Such employees and individuals acted as couriers and mules for depositing illicit cash into a network of bank accounts linked to the syndicate," they added. This pattern of cash layering and circulation demonstrates a deliberate attempt to conceal the origin of crime proceeds, constituting a classic case of structured money laundering and concealment under the garb of petty deposits, they further said. Live Events A portion of the liquor kickbacks was transferred to the employees and associates of the accused as salary, they further said adding it was also observed that several of such low-profile individuals were made to send the cash deposited into their account to other accused. The SIT probing the alleged liquor scam arrested several people, including YSRCP Lok Sabha member PV Midhun Reddy , in the case. In May, the Enforcement Directorate also filed a money laundering case to investigate the alleged liquor scam. The federal probe agency has filed an Enforcement Case Information Report (ECIR) under sections of the Prevention of Money Laundering Act (PMLA) to probe alleged irregularities in the sales of liquor in the state. The previous chargesheet filed last month mentioned former chief minister YS Jagan Mohan Reddy as the recipient of kickbacks averaging Rs 50-Rs 60 crore per month. The 305-page chargesheet, however, stopped short of naming Jagan accused. When contacted, former minister and senior YSRCP leader Ambati Rambabu told PTI that all the allegations made in the chargesheet are baseless and "created" ones.
Hans India
3 days ago
- Politics
- Hans India
ED grills actor Rana in illegal betting app case
Hyderabad: The Enforcement Directorate (ED) grilled film actor Rana Daggubati on Monday in connection with a case booked against several persons for promoting illegal betting apps. The actor submitted his bank statements in support of his argument that he did not get any financial benefits by promoting the betting apps in question. Sources said that the ED sleuths questioned Rana for more than four hours, seeking clarifications on the allegations of his having received huge money in lieu of promoting the betting apps. The Cyberabad Police booked a criminal case against popular film actors Rana Daggubati, Vijay Devarakonda and Prakash Raj, among others, for promoting betting apps in violation of norms through pop-up ads on various social media platforms. The Enforcement Directorate (ED) had registered an Enforcement Case Information Report (ECIR) against 29 individuals, including actors, television hosts, social media influencers, and YouTubers, for allegedly promoting illegal betting applications in breach of the Public Gambling Act, 1867. The case was booked under provisions of 318(4), 112 read with 49 BNS and Section 3, 3(A), 4 of TS Gaming Act and Section (D) of IT Act based on a complaint lodged by PM Phanindra Sarma, a businessman and a resident of Miyapur. The ED has already questioned Devarakonda and Prakash Raj. Official sources said that Rana arrived at the ED office, along with his advocate and submitted the required documents to the probing agency. The ED will analyze the documents to ascertain the role of Rana in the promotion of betting apps and financial benefits, if any, received by him against the Prevention of Money Laundering Act.
New Indian Express
4 days ago
- New Indian Express
Srushti Fertility Centre on ED radar over hawala deals
HYDERABAD: The Enforcement Directorate (ED) is likely to investigate suspected money laundering by Dr Namratha and her team while running the illegal surrogacy and baby-selling racket uncovered at Srushti Fertility Centre. The accused allegedly received large sums of money from clients through hawala transactions. Hyderabad police are already probing the fertility centre's affairs for its suspected involvement in unlawful activities. According to sources, the ED suspects the centre conducted large-scale hawala transactions to procure babies from multiple states and supply them to childless couples as surrogate children. The estimated value of these illicit transactions could be as high as `40 crore. The ED is expected to formally request the Hyderabad police to share case details, including remand reports, FIRs, seized documents, and other evidence, to build a money laundering case. Sources indicate that the agency may write to the Hyderabad Police Commissioner on Monday, seeking the necessary documents to register an Enforcement Case Information Report (ECIR) against Dr Namratha and Srushti Fertility Center.
