Daijiworld Media Network – New Delhi

New Delhi, Nov 13: The Enforcement Directorate (ED) has arrested Manoj Gaur, Managing Director of real estate major Jaypee Infratech Ltd, in connection with a money laundering case related to alleged cheating of homebuyers, official sources confirmed on Thursday.

According to officials, Gaur was taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) following detailed questioning over financial irregularities and diversion of funds collected from homebuyers for housing projects.

The ED’s probe stems from multiple complaints and FIRs filed against the company and its top executives for allegedly misusing funds and failing to deliver housing units to thousands of buyers. The agency is investigating suspected laundering of money raised from these buyers through complex financial channels and shell entities.

Jaypee Infratech, once a major player in the real estate and infrastructure sector, has been under the scanner for years over stalled housing projects and defaults that left numerous homebuyers in distress.

Further details regarding Gaur’s remand and the agency’s next course of action are awaited.