The Enforcement Directorate (ED) on Wednesday raided a realty group in Uttar Pradesh as part of an investigation into money laundering for fraud of Rs 248 crore from investors. Official sources gave this information.
Sources said that at least eight complexes are being conducted in Lucknow and two complexes in Delhi in the case against ‘Rohtas Projects Limited’. He informed that this action is being done under the Money Laundering Act (PMLA).
This case of money refinement has been related to 87 elements lodged by those who buy homes/commercial places since 2021. These elements have alleged that buyers were cheated and they were not given their properties.
Sources said that according to the forensic audit conducted by ‘UP RERA’ (Uttar Pradesh Real Estate Regulatory Authority), “income earned from crime” in this case is Rs 248 crore.
He claimed that this raid is being conducted for the purpose of gathering evidence and seizing the property of the promoters as they have been “absconding” for the last four years. The promoters of the company have been identified as Piyush Rastogi, Paresh Rastogi and Deepak Rastogi.