ED arrests director of M3M Group in money laundering case
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On June 1, the probe agency had conducted raids in Delhi and Gurugram against M3M Group and its directors as well as another real estate group Ireo. The ED had said in a statement that luxury vehicles like Ferrari, Lamborghini and Bentley worth Rs 60 crore were seized in the raids.
New Delhi. The Enforcement Directorate (ED) has arrested a director of Gurugram-based realty company M3M in connection with its probe into an alleged money laundering case. Official sources gave this information on Friday. He told that Roop Kumar Bansal was taken into custody on Thursday under the Prevention of Money Laundering Act (PMLA). On June 1, the probe agency had conducted raids in Delhi and Gurugram against M3M Group and its directors as well as another real estate group Ireo. The ED had said in a statement that luxury vehicles like Ferrari, Lamborghini and Bentley worth Rs 60 crore were seized in the raids.
The ED has alleged that the promoters of the M3M group – Basant Bansal, Roop Kumar Bansal, Pankaj Bansal and other key people – deliberately evaded investigation during the search operation. The agency has been probing the Ireo Group for the past few years over allegations of money laundering and misappropriation of investors’ money. According to the ED, it came to know during investigation that hundreds of crores of rupees were sent through M3M Group as well. In one such transaction, Rs 400 crore was received by M3M from Ireo via multiple companies.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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