Builder's Arrest Sparks Money Laundering Scandal in PMAY Scheme

The Delhi court has granted 14-day custody to the ED for Swaraj Singh Yadav, accused in a money-laundering case related to the Pradhan Mantri Awas Yojana. Allegations include illegal resale of flats and fund diversion totaling Rs 222 crore. The investigation aims to uncover accomplices and the modus operandi.

In a significant development, a Delhi court has approved a 14-day custody for Swaraj Singh Yadav, a builder embroiled in a money-laundering scandal tied to the Pradhan Mantri Awas Yojana (PMAY).

Authorities accuse Yadav of reselling flats initially priced under the government scheme at inflated rates, further alleging involvement in widespread financial deceit against homebuyers in several cities.

With Rs 222 crore reportedly diverted for personal assets, the court emphasized the necessity of Yadav's custodial interrogation to unravel the complex financial web and apprehend additional involved parties.

(With inputs from agencies.)