ED cracks down on Raheja builders in alleged homebuyer fraud case

The Enforcement Directorate (ED) on Saturday conducted multiple raids at sites linked to Delhi’s Raheja builders after it found important documents and asset details related to a money laundering case, as per reports. The case is linked to an alleged fraud with homebuyers.

The raids were conducted in  Delhi NCR, and Mohali. The ED reportedly searched the company’s offices and other related locations. According to the ED, the case was reportedly filed after several FIRs were filed by the Economic Offences Wing (EOW) of Delhi Police. These complaints were against Raheja Developers Ltd, its Managing Director Naveen Raheja, and others.

The FIRs reportedly claim that the company cheated homebuyers, with the ED is now investigating the financial transactions and properties linked to the case.

Officials reportedly said that many homebuyers had complained about delays in project delivery and misuse of their money. Some buyers also said they did not get possession of their homes even after paying full amounts.

The ED is checking bank records, property papers, and company accounts to understand how the money was used. The agency is also trying to find if any illegal transactions were made, as per reports.

The investigation is still going on, and more action may be taken in the coming days if strong evidence is found against the company and its officials.