Daijiworld Media Network - New Delhi
New Delhi, May 16: The Enforcement Directorate (ED) has arrested two individuals in connection with a large-scale fraud involving the illegal sale of immovable properties belonging to a charitable society in Uttar Pradesh and Madhya Pradesh, officials said on Friday.
The arrested accused have been identified as G. Ram Chandra Mohan and Akash Malviya. The action followed extensive search operations conducted on May 14–15 as part of an investigation into the alleged illegal disposal of assets belonging to the Spiritual Regeneration Movement Foundation of India (SRMF), a charitable society registered in 1963.
According to the ED, both accused were produced before the Special PMLA Court at Patiala House Courts in New Delhi and have been remanded to agency custody for further interrogation.
The agency also issued freezing orders on bank accounts, fixed deposits, lockers, and luxury vehicles linked to Singhvahini Infra Projects and its directors, including Pradeep Singh, for their alleged role in laundering proceeds of crime generated through the fraudulent transactions.
The case stems from an Enforcement Case Information Report (ECIR) registered on May 7, based on multiple FIRs filed across Uttar Pradesh, Madhya Pradesh, and Chhattisgarh. These FIRs involve charges of cheating, forgery, impersonation, and criminal breach of trust.
Investigators allege that the accused conspired to illegally sell high-value trust properties by posing as authorised office bearers of SRMF. They reportedly used forged powers of attorney, fabricated board resolutions, and fake authorisation documents to carry out property sales worth hundreds of crores of rupees.
The ED identified G. Ram Chandra Mohan as the main conspirator, alleging that he falsely presented himself as the treasurer of SRMF in 2010. He is also accused of creating a duplicate entity with a similar name, securing a fake PAN card later marked as a “fake assessee” by the Income Tax Department, and opening bank accounts to route illicit funds.
Akash Malviya is accused of impersonating an executive member of the trust and actively facilitating fraudulent property transactions as an authorised signatory.
The agency further stated that Pradeep Singh, director of Singhvahini Infra Projects, played a key role in the layering and transfer of illicit proceeds. Despite allegedly being aware that the properties belonged to SRMF and that the accused had no legal authority over them, he proceeded with the transactions and later resold portions of the same assets to third parties.
The investigation is ongoing as the ED continues to trace the flow of funds and identify additional beneficiaries involved in the alleged money laundering network.