ED arrests Jaypee Infratech MD in money laundering case

ED Arrests Jaypee Infratech MD:  Significant news has emerged regarding the Jaypee Group. The Enforcement Directorate (ED) has arrested Manoj Gaur, Managing Director of Jaypee Infratech Ltd. This action has been taken in connection with a major case involving money laundering and misappropriation of homebuyers' funds. The ED alleges that Jaypee Associates Limited (JAL) and its affiliated companies embezzled approximately ₹12,000 crore through Manoj Gaur.

Alleged Misappropriation of Buyers' Funds

The ED alleges that Jaypee Infratech Limited diverted funds collected from homebuyers for its real estate projects to other projects and misused them. Many investors' money is stuck in this fraud and they are still suffering losses.

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Several FIRs were also filed in 2017, when homebuyers protested against the builder and alleged that their funds were misused. The ED investigation is now attempting to clarify the extent of the irregularities and who is responsible. The arrest of Manoj Gaur may further intensify the ED's investigation. The agency is now investigating the entire matter through property attachment and financial tracking.

Major raids in May 2025

In May 2025, the ED raided the premises of Jaypee Infratech, Jaypee Associates, and their associated companies under the Prevention of Money Laundering Act (PMLA). According to an ANI report, approximately 15 locations in Delhi, Mumbai, and other major cities were raided.

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Summary

In this raid, which took place on May 23, 2025, the agency seized important documents, digital devices, and bank records. The ED also seized cash worth Rs 1.70 crore.