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NEW DELHI: It was not the benignant of enactment that is associated with authorities machinery. The tribunal of further sessions justice Shefali Barnala Tandon (of the Patiala House courts) was convened astatine her residence astir 3 americium connected Friday to remand a idiosyncratic accused of wealth laundering, Swaraj Singh Yadav, successful ED's custody.
Yadav, who is the promoter of Ocean Seven Buildtech Pvt Ltd, is accused of illegally selling PM Awas Yojana flats successful Gurgaon successful all-cash transactions.After a daylong search, Yadav was held by the bureau earlier midnight connected Thursday. ED's determination came successful transportation with the alleged laundering of much than Rs 222 crore of funds generated from amerciable merchantability of apartments meant for the mediocre nether PM Awas Yojana. These were sold astatine an inflated terms of Rs 40-50 lakh each to caller buyers by cheating the archetypal allottees whose allotment was cancelled, with not adjacent their deposits being refunded.
The archetypal outgo of a level was Rs 26.5 lakh.
Realtor moving 'nationwide laundering scam', says ED Using these funds, ED said, the accused acquired idiosyncratic assets, including 500 acres astatine Ware colony successful Maharashtra, 100 acres connected Pune-Alibag Road, Sai Rupa Resorts successful Tirthan Valley successful Himachal Pradesh and onshore successful Boston (US), too fiscal assets successful the UK."The hunt for the arrestee started astatine 6.55 am, and helium has to beryllium produced earlier the tribunal wrong 24 hours of the search, arsenic per the guidelines of Supreme Court and assorted precocious courts," the ED submitted earlier the justice portion producing the accused "at this unusual hour" astatine her residence.
The ineligible counsel of the accused was inactive connected his mode erstwhile the tribunal began its proceedings astatine 3.05 am, and by the clip the hearings from some the sides concluded, it was 6.30 am.
The justice remanded the accused successful ED's custody till Nov 28, erstwhile helium is to beryllium produced again. Not taking a chance, the justice specifically instructed that the accused beryllium brought earlier the tribunal astatine 2 p.m. connected that day.The ED accused Yadav of committing "a nationwide wealth laundering scam since 2006, duping thousands of buyers successful Mumbai, Jaipur, Kotputli and Gurugram".
As per FIRs registered against him with the Delhi police, an estimated Rs 222 crore of homebuyers' wealth was siphoned by the accused aft layering them done a related "in-house operation agency"."The concerted and accelerated liquidation of some idiosyncratic and company-held assets by arrestee Swaraj Singh Yadav successful the caller past powerfully indicates his intent to dispose of the proceeds of transgression and flight enactment nether provisions of law.
The probe records corroborate the urgent disposal of assets and liquidation of funds successful anticipation of ineligible action. He had already sold a level successful Jalvayu Vihar successful Gurugram, 40 acres of onshore successful Borgaon, Maharashtra, and 15 acres successful Jaipur," the ED said."This coincides with his woman Sunita Swaraj relocating to the US successful Aug 2025," the bureau added and brought to the announcement of the tribunal the information that the accused had transferred immense amounts to the US via a slope relationship of his wife's successful Bank of Baroda. With his children pursuing graduation from Trinity College, Connecticut, US, determination is each anticipation of his fleeing from justice, the bureau said.
