ED Cracks Down on Tax Evasion and Money Laundering: Major Developments

The Enforcement Directorate (ED) conducted significant operations, investigating an industrialist for alleged Rs 190 crore customs evasion and arresting Manoj Gaur of Jaypee Group for money laundering. Key evidence was seized, implicating fake exports to Nepal and Bangladesh, while actual sales occurred domestically to skirt duties.

The Enforcement Directorate (ED) executed searches under the Prevention of Money Laundering Act, 2002, targeting the residences and business sites of an industrialist in a case involving a Rs 190 crore customs duty evasion allegation.

On November 12, the ED seized incriminating evidence related to imports and exports, along with digital devices belonging to individuals implicated in the customs evasion case. These operations are linked to Titan Sea and Air Services Pvt Ltd, following an FIR by the Central Bureau of Investigation (CBI), which highlighted fake export documentation to misrepresent exports to Nepal and Bangladesh.

In a separate development, Manoj Gaur, former Chairman of Jaypee Infratech Ltd, was arrested for money laundering in connection with cheating homebuyers. The arrest, made under Section 19 of the PMLA, followed a thorough investigation into alleged fraudulent activities involving the Jaypee Group.

(With inputs from agencies.)