ED Cracks Down: High-Profile Money Laundering in Real Estate

The Enforcement Directorate has attached commercial properties worth over Rs 82 crore in Delhi and Gurugram. This is part of a money-laundering investigation against MGF Developments and director Shravan Gupta, who is also implicated in the AgustaWestland scandal. Gupta allegedly diverted Rs 180 crore via fraudulent transactions.

The Enforcement Directorate (ED) has made a significant move by attaching two high-value commercial spaces in Delhi and Gurugram, together worth more than Rs 82 crore. This action is part of an ongoing money-laundering investigation targeting real estate firm MGF Developments and its director, Shravan Gupta.

The federal agency's latest statement highlights that Gupta, who is also a suspect in the high-profile AgustaWestland helicopter scandal, has absconded. Efforts to reach Gupta for his comments have been unsuccessful.

The money-laundering case originates from an FIR filed by the Delhi Police's Economic Offences Wing, following a complaint from Emaar India Limited. The allegations involve Gupta's illegal transactions totaling Rs 180 crore, misappropriating funds from a joint venture company.

(With inputs from agencies.)