New Delhi, March 16 The Enforcement Directorate (ED) on Monday said it has arrested the Director of Sanjeevani Buildcon Pvt. Ltd. for cheating the investors by offering them plots.
THe ED said that it arrested Shyam Kishore Gupta, Director of the Sanjeevani Buildcon under the charges of Prevention of Money Laundering Act (PMLA).
The ED claimed that Gupta, induced the gullible investors to deposit money with the accused company for the purchase of plots of land and subsequently this money was siphoned off.
Gupta was produced before the a Ranchi court and sent to 10 days custody to ED.
The ED had taken over the probe on the basis of the CBI FIR filed against Gupta in 2014. The CBI had filed a chargesheet against Gupta in 2016.
The ED said that during probe it was revealed that Gupta along with Jayanti Dayal Nandi, Managing Director of the Company and others fraudulently lured a large number of persons by inducing them for purchasing of plots in Jharkhand.
"Deposits to a tune of around Rs 80 crore were received from the investors but possession of plots or flats was not given to them," the ED said.
The ED alleged that the money received from investors deposited into the bank accounts of the company and its Directors and the same was siphoned off to the accounts maintained in the name of the Directors.
Gupta along with others used the money of such investors to create various movable and immovable assets in their own names.
In January last year, ED attached assets worth Rs 3.10 crore of Gupta.
( With inputs from IANS )