highlights
Mumbai builder arrested by ED
There is an allegation of fraud of 500 crores
Investor’s money was diverted
New Delhi. The promoter of a Mumbai-based real estate company has been arrested under the anti-money laundering law in a case related to an alleged fraud of over Rs 500 crore. The Enforcement Directorate (ED) gave this information on Thursday. The ED said that Mahesh Bhupatkumar Ojha, the promoter of Karan Group Builders and Developers, was taken into custody on January 10 from the jail, where he was kept since he was arrested for the first time by the Bengaluru Police.
The money laundering case against Ojha and others is based on multiple FIRs filed by the Karnataka Police on a complaint from an investor. The investor had invested money in his projects. The ED has said in its statement, ‘Out of this total investment (Rs 526 crore) made by the complainant, a major investment of Rs 121.5 crore was made for a real estate project by Mahesh B Ojha-led Karan Group Builders and Developers. went.’ According to the statement, this amount received for real estate projects was ‘diverted’ by Ojha through another network of various entities and people.
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Tags: enforcement directorate, fraud case, MUMBAI
FIRST PUBLISHED : January 12, 2023, 23:16 IST
