ED Cracks Down on Raheja Developers in Fraud Investigation

The Enforcement Directorate seized incriminating documents and asset details from Raheja Developers Ltd. in a money laundering investigation linked to alleged fraud against homebuyers. The raids, conducted in Delhi-NCR and Mohali, follow multiple FIRs alleging fraudulent collection of funds by the company.

The Enforcement Directorate (ED) has reported the seizure of incriminating documents and asset details after conducting intensive searches on Raheja Developers Ltd. and its directors as part of a money laundering probe linked to alleged fraud against homebuyers.

The operations took place on June 27 across locations in Delhi-NCR and Mohali, Punjab. This investigation by the ED is an extension of multiple First Information Reports (FIRs) filed by the Economic Offences Wing (EOW) of the Delhi Police.

The FIRs accuse the real estate firm Raheja Developers Ltd, along with its Managing Director Naveen Raheja, of collecting substantial sums from investors and homebuyers under the pretense of providing residential flats, a promise they reportedly failed to fulfill. The company has yet to respond to these serious charges.

(With inputs from agencies.)