ED Seizes Rs 42 Crore Worth of Assets in NOIDA CEO Money Laundering Case

The Enforcement Directorate (ED) seized cash, gold, and diamond jewellery worth over Rs 42 crore in a money laundering case involving retired NOIDA Authority CEO Mohinder Singh and various builders. The investigation, prompted by allegations of home buyer fund misappropriation, led to raids across multiple locations, uncovering extensive fraud.

The Enforcement Directorate (ED) has seized cash, gold, and diamond jewellery worth over Rs 42 crore following raids conducted at several locations linked to retired NOIDA Authority CEO Mohinder Singh and associated builders. This operation is connected to an ongoing money laundering investigation.

The raids, carried out in Delhi, Noida, Meerut, Chandigarh, and Goa on September 17-18, are part of a broader investigation into alleged fraud by Hacienda Projects Private Limited and its related entities. According to the ED, the fraudulent activities are estimated to have defrauded home buyers of Lotus 300 Projects in Noida by Rs 426 crore.

The probe involved searches at the offices and homes of various individuals linked to the scam, including company promoters and retired IAS officer Singh. The investigation began at the behest of the Allahabad High Court following FIRs filed by the Economic Offences Wing (EOW) of the Delhi Police. Seized assets include unexplained cash, gold and diamond jewellery, and property documents worth crores.

(With inputs from agencies.)