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ED raids ex-Haryana minister Gopal Kanda in PMLA case linked to real estate ‘fraud’

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The Enforcement Directorate (ED) on Thursday raided three premises in Gurugram linked to former Haryana minister Gopal Kanda, including his residence, farmhouse and office, in connection with an alleged homebuyers’ funds fraud case.The agency is probing a large-scale alleged real estate fraud by Vatika Limited, in which investors were reportedly induced to put money into commercial projects on assurances of timely possession, assured returns, lease rentals and execution of sale deeds.According to ED sources, the four projects under investigation involved the collection of approximately Rs 248.46 crore from 661 investors, without handing over possession or executing the promised sale deeds till date.The searches were conducted under Section 17 of the Prevention of Money Laundering Act (PMLA) based on the financial trail and suspected diversion of homebuyers’ funds, the agency said.The ED probe has found that the diverted funds were subsequently transferred to various companies allegedly linked with Gopal Kanda.

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