The Enforcement Directorate carried out raids on Tuesday at premises of Gurugram based realty firms - Ireo groups in Delhi and Haryana for laundering about Rs 2,600 crore.
The agency said that they carried out search operations at the business premises of IREO Pvt Ltd; IDM Reality Pvt Ltd; Madeira Conbuild Pvt Ltd; Global Estate and others and residential premises of their directors and associates -- Lalit Goyal, Jai Bharat Aggarwal, Anupam Nagalia, Madhukar Tulsi, CA Anil Kumar Goel -- at Gurugram and Delhi.
The search resulted in seizure of property documents and foreign investment papers, laptops, mobile phones and Indian and foreign currency worth Rs 14 lakh.
The agency had initiated money laundering investigation on the basis of FIRs registered at Panchkula by Haryana Police, FIR of Economic Offences Wing, Delhi and FIR registered at PS Hauz Khas, Delhi against IREO Private Limited, Lalit Goyal and others for not providing flats and plots to home buyers and siphoning of their funds.
The ED investigation revealed that the modus operandi adopted by the group includes routing of funds to India from various entities based in tax havens countries like British Virgin Islands, Mauritius, diversion of funds by way of buyback of equity shares, recording of fictitious expenses in the books of accounts, writing off project in progress, interest free loans and advances to sister concerns and round tripping of funds through shell companies and creation of assets within and outside India. Total funds involved are over Rs 2,600 crore, part of which are proceeds of crime.
Investigation further revealed that Lalit Goyal is a settler and named beneficiary of an overseas Trust based in Guernsey which owns and controls entities holding assets outside India. Recent Pandora Papers Leak has also named four entities -- which are beneficially owned by Lalit Goyal -- having registered address in BVI hold assets having value more than USD 77.73 Million (Rs 575 crore approx)
Earlier on November 16, Lalit Goyal was arrested and remanded for seven days ED custody by Special Court. The ED custody has been further extended by three days till November 26.
"Further Investigation is under progress," said
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