ED Arrests Jaypee Infratech MD Manoj Gaur in Money Laundering Case

ED Arrests Jaypee Infratech MD Manoj Gaur in Money Laundering Case
The Enforcement Directorate (ED) on Wednesday arrested Manoj Gaur, Managing Director of Jaypee Infratech, in connection with a money laundering investigation linked to alleged cheating of home buyers. The probe centers on claims that the company collected funds from buyers for residential projects but failed to deliver the promised homes, leading to financial losses for thousands. ED officials stated that the arrest follows evidence suggesting that the funds were diverted or misused, triggering the application of the Prevention of Money Laundering Act (PMLA). Manoj Gaur is expected to be produced before a designated court for custody proceedings. The investigation aims to trace the flow of money and ensure accountability for the affected home buyers. Authorities have assured strict action against all individuals involved in the case and emphasized that protecting the interests of homebuyers remains a priority for regulatory agencies.