ED Attaches Rs 400 Crore Assets in Jaypee Group Homebuyer Fraud Probe
14 hours agoBusiness
64LENS
10 SourcesNoida, India
TBNthebalanced.news
ED Attaches Rs 400 Crore Assets in Jaypee Group Homebuyer Fraud Probe

The Enforcement Directorate (ED) has provisionally attached immovable assets worth approximately Rs 400 crore linked to Jaiprakash Sewa Sansthan (JSS) and Page 3 Buildtech Private Limited. This action is part of an ongoing money laundering investigation into the Jaypee Group, specifically concerning alleged large-scale fraud and misappropriation of funds collected from homebuyers for the Jaypee Wishtown and Jaypee Greens projects. The ED's probe, initiated based on homebuyers' complaints and FIRs, alleges that substantial funds were diverted for non-construction purposes, leaving projects incomplete.

Political Bias
18%37%45%
Sentiment
35%