Jaypee Infratech Scam: Manoj Gaur Arrested in Rs 14,599 Crore Fraud Case

The Enforcement Directorate arrested Manoj Gaur, former MD of Jaypee Infratech Ltd, under the PMLA for alleged money laundering related to a Rs 14,599 crore fraud involving home buyers. The probe revealed fund diversion and incomplete residential projects, implicating Gaur as a central figure in the scheme.

The Enforcement Directorate (ED) has detained Manoj Gaur, former managing director of Jaypee Infratech Ltd, in connection with an extensive money laundering investigation. The probe is linked to an alleged Rs 14,599 crore fraud concerning thousands of home buyers, according to official sources.

Authorities report that Gaur was apprehended under the provisions of the Prevention of Money Laundering Act (PMLA). The agency claims that funds intended for home projects were allegedly diverted to various trusts, resulting in unfinished developments and aggrieved investors. Gaur, identified as the managing trustee of Jaypee Sewa Sansthan, is believed to have played a significant role in the allocation of these funds.

The ED's inquiry stems from multiple FIRs lodged by the Economic Offences Wings of Delhi and Uttar Pradesh Police. These complaints accused Jaypee Group promoters, including Gaur, of criminal conspiracy and breach of trust. During recent raids, the ED seized extensive financial and digital records, substantiating allegations of fund misallocation within the Jaypee Group's complex network.

(With inputs from agencies.)