Arrested Unitech promoters used homebuyers’ money to bribe Tihar jail officials: ED : The Tribune India

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Tribune News Service

New Delhi, June 23

The Enforcement Directorate (ED) on Thursday said it has issued a provisional attachment order under provisions of the prevention Money Laundering Act (PMLA) to seize assets worth Rs 257 crore belonging to Unitech promoters, who, it alleged that used the ‘misappropriated” funds of homebuyers to “bribe” Tihar jail officials during their confinement there.    

In an official statement, the ED said, “The provisionally attached properties include residential, commercial units, land parcels in Gurugram, Goa, Chennai and some other places, demand drafts, equity shares and bank balances. The properties are owned by CIG (Chandra Investment Group) Realty Fund and Authentic Group.”

With this latest action, the ED has issued 14 attachment orders, freezing properties worth Rs 1,059.52 crore in the case.

The ED also said that its probe has allegedly found that homebuyers’ funds amounting to Rs 244 crore were “illegally diverted” by Unitech promoters Ajay and Sanjay Chandra to CIG Realty Fund.

“The diverted funds were used to purchase land owning companies of Unitech Group. Auram Asset Management Private Limited was one of the companies controlled by the Chandra family, which was used to manage the affairs of CIG Realty Fund,” it said, while alleging that the firm was used by the Chandras to siphon off investors’ funds from the accounts of CIG Realty Fund.

The “misappropriated” funds, the ED said, were used to “finance” the illegal activities of the Chandras such as “bribing” certain Tihar jail officials and other personal expenses of the Chandra brothers.

They were earlier lodged in the Tihar jail but after the ED informed the Supreme Court about their alleged illegal activities in the prison, the apex court ordered their transfer to a Mumbai jail.

The ED probe also found out that in 2007, instead of building houses, homebuyers’ funds to the tune of Rs 60.25 crore were “illegally diverted” by the Chandras to Authentic Group with an intention to build a seven-star resort in south Goa.

The agency had filed a case under provisions of the PMLA against the group, its promoters and linked companies on June 6, 2018, on the directions of the Supreme Court and also after taking cognisance of two Delhi Police FIRs lodged by the Economic Offences Wing (EOW) and the Saket police station.

 

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