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ED has made another important arrest in the big money laundering case related to Sahara Group. Sahara’s former deputy director OP Srivastava faces serious allegations of huge fraud and fund diversion from investors. His arrest has raised new questions on the property game of Sahara Group after Subrata Roy.
New Delhi. ED has arrested former deputy director of Sahara Group OP Srivastava in a money laundering case of Rs 1.79 lakh crore. He is accused of large-scale fraud against investors and diverting funds through shell companies. He is also suspected of playing a big role in the sale of Sahara Group’s assets after the death of Subrata Roy. Srivastava’s name came up in this scam after the seizure of 707 acres of land during the investigation of the entire case.
Allegation of big fraud with investors’ money
According to ED, Srivastava is accused of wrongly transferring funds worth thousands of crores of rupees and illegally using the money raised in the name of Sahara Group. The investigation also revealed that his role was important in those transactions in which money was spent in other companies without informing the investors.
Suspicious activities increased after Subrata Roy’s death
ED suspects that after the death of Subrata Roy, OP Srivastava played a big role in the sale and management of Sahara Group’s properties. According to the investigation report, irregularities were found in several land and property deals, in which Srivastava’s signature and instructions are mentioned. During this period, his name came to prominence after the seizure of 707 acres of land.
New twist in Sahara investigation, what next?
After the arrest of Srivastava, ED is now examining the documents and digital records to which transactions worth crores of rupees are linked. It is believed that in the coming days, even more big names may get involved in this matter. The investigating agency says that this action is in the interest of lakhs of investors whose hard-earned money has been stuck for years.
