The Enforcement Directorate announced on Tuesday that it has confiscated “incriminating” documents and asset details following searches conducted against Raheja Developers Ltd. and its directors in a money laundering investigation associated with alleged fraud involving homebuyers.
The searches took place on June 27 in the Delhi-NCR region and Mohali, Punjab. The money laundering investigation by the Enforcement Directorate (ED) originates from several FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police against Raheja Developers Ltd., its Managing Director Naveen Raheja, and others, as stated by the federal agency.
The FIRs claim that “substantial” amounts were fraudulently obtained from investors and homebuyers by Raheja Developers Ltd. under the pretense of delivering residential flats in various group housing projects, yet the promised flats were never delivered, according to the ED.
The company was unavailable for comment regarding the allegations made by the ED. During the searches, numerous incriminating documents, digital devices, and information regarding movable and immovable properties were seized, as reported by the agency.
