Jaipur, Sep 6 In a crackdown on a Rs 150 crore land scam in Rajasthan with possible national and cross-border financial links, the ED conducted searches at several premises in Jaipur linked to tainted realtor Gyan Chand Agarwal, an official said on Saturday.
The searches were conducted over two days, on Wednesday and Thursday, in connection with money laundering by Agarwal, who allegedly duped over 300 land purchasers.
During the search operations, unaccounted cash along with various incriminating documents relating to the acquisition of foreign companies and assets through illegal and dubious means have been gathered, the ED said in a statement.
Documents revealing that the money has been siphoned off abroad via shell companies and invested in various business activities, including mining, have been recovered, it said.
In addition, the federal agency seized digital evidence, including hard disks, mobile phones, and other devices, which revealed large-scale illegal and tainted transactions carried out by the accused.
The ED initiated an investigation on the basis of various FIRs registered by the Rajasthan Police against Agarwal, a resident of Jaipur, who has been involved in multiple large-scale frauds related to land grabbing and defrauding numerous persons and corporates to the tune of hundreds of crores of rupees.
Due to his rampant and widespread illegal activities, over 300 FIRs have been registered against him in Jaipur only, with numerous other FIRs across the state, the ED said in a statement.
Agarwal’s long history of illegal and criminal activities forced the Rajasthan Police to declare him a history-sheeter.
The FIRs lodged against him alleged that, in connivance with his associates, he was involved in duping investors by preparing forged documents and extending false assurances. Also, there are various arrest warrants issued against him by courts, which are still in force, the ED said.
As per police FIRs, the accused cheated various investors of over Rs 150 crore, the ED said, adding that further evidence is being examined to unearth the true extent of fraud committed by Agarwal and his accomplices.
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