ED Raids Rohtas Projects: A Rs 248 Crore Money Laundering Probe

The Enforcement Directorate conducted searches against Rohtas Projects Ltd., an Uttar Pradesh-based realty group, in a Rs 248 crore money laundering probe. Investigations stem from 87 FIRs filed by homebuyers alleging fraud by the company's promoters. The promoters have been absconding for four years.

The Enforcement Directorate has launched an extensive search operation focusing on the Uttar Pradesh-based realty company, Rohtas Projects Ltd. The raids are part of a money laundering investigation involving a staggering sum of Rs 248 crore, according to official sources.

In this high-profile case, at least eight locations in Lucknow and two in Delhi were targeted. The search operation is being conducted under the Prevention of Money Laundering Act (PMLA), with allegations that the company duped investors.

Triggered by 87 FIRs filed since 2021 by homebuyers, the investigation reveals that promoters Piyush, Paresh, and Deepak Rastogi have been absconding for four years. As forensic audits indicate, these actions amount to Rs 248 crore in 'proceeds of crime.'

(With inputs from agencies.)