Manoj Gaur and Jaypee Infratech: A Multi-Billion Fraud Saga

The Enforcement Directorate has filed a chargesheet against former Jaypee Infratech MD Manoj Gaur for a Rs 14,599 crore fraud involving homebuyers. The investigation revealed funds collected for residential projects were misused, leaving them incomplete. The agency's prosecution complaint alleges financial misconduct by Jaypee-related companies.

The Enforcement Directorate has taken legal action against Manoj Gaur, the former managing director of Jaypee Infratech, filing a chargesheet in a significant fraud case. Gaur was arrested last year over allegations of misappropriating Rs 14,599 crore meant for homebuyers.

The agency has accused Gaur of diverting funds intended for residential projects, leaving numerous homebuyers stranded with incomplete developments. The chargesheet was submitted to Principal District and Sessions Judge Anju Bajaj Chandna while the accused remains in judicial custody.

The investigation, initiated by multiple FIRs from the Economic Offences Wings in Delhi and Uttar Pradesh, highlights serious charges of criminal conspiracy, cheating, and breach of trust against the Jaypee Group and its executives.

(With inputs from agencies.)