ED Raids Grand Venice Mall In Major Crackdown Involving Rs 40 Crore Money Laundering Case News24 –

Reported By Junaid Akhtar

Greater Noida: In a major crackdown involving fraudulently taking money from investors, the Enforcement Directorate (ED) raided the Grand Venice Mall and some other locations in Greater Noida. According to News24 reporter Junaid Akhtar, the ED conducted raids on the premises of Satinder Singh Bhasin, the owner of the mall. An ED team arrived at the mall on Thursday at 7 am and began inspecting various important documents.

Mall Owner Arrested Multiple Times Before

Meanwhile, it was reported that the mall owner, Bhasin, was earlier arrested multiple times by the Noida Police. His group was involved in cheating several home buyers and was charged with fraud of about Rs 40 crore. Meanwhile, the sources revealed that the action is being taken against Delhi-based corporate office: Bhasin Infotech and Infrastructure Private Limited, the company’s director and promoter Satinder Singh Bhasin, and a few others.

ED’s Investigations Connected To 40 FIRs Lodged By Home Buyers

However, the company or its directors could not be reached for information on ED’s action. Sources further added that the ED officials are carrying out searches under the Prevention of Money Laundering Act (PMLA) at several key premises in Noida, Delhi, and Goa. The list includes ‘Grand Venice Mall’ located in Greater Noida. The ED’s investigations are connected to around 40 FIRs lodged by home buyers against the company and its promoters. Meanwhile, the investors have been scammed of about Rs 40 crore.