The Lucknow branch of the Enforcement Directorate (ED) arrested chief financial officer of Amarpali Group Chandra Wadhwa from Delhi late on Friday night.
The ED is probing multi-crore financial fraud committed by the Amarpali Group. The charges include diversion of 42,000 homebuyer’s money in UP and National Capital Region (NCR).
The ED had registered a case under the Prevention of Money Laundering Act, 2002, against the firm in July, 2019.
Two directors of the firm, Anil Sharma and Shiv Priya, have already been arrested by the ED in connection with the financial fraud in January this year, and are now languishing in jail.
An ED official said that probes into various projects of Amarpali in UP at NCR began as early as 2010. The agency is also probing how the officers in the then governments gave permission to the firm for carrying forward one project after another despite multiple complaints of non-completion of projects lodged against it.
“Our role is not only to find out where exactly the diversion of customer’s money took place but also probe the channel through which the money was transferred,” an ED source said.
