Top

Lavish Aamby Valley City Seized in Sahara Group Money Laundering Scandal

Lavish Aamby Valley City Seized in Sahara Group Money Laundering Scandal The Enforcement Directorate (ED) has attached the opulent Aamby Valley City in Maharashtra, valued at Rs 1,460 crore. The confiscation is a significant move in the ongoing money laundering inquiry targeting the Sahara Group.This case unraveled following over 500 FIRs, with allegations that Sahara Group operated a Ponzi scheme. Investors were reportedly deceived into reinvesting funds and denied maturity payouts, as per ED findings.The ED alleges Sahara manipulated financial records and siphoned off funds to finance a lavish lifestyle. Meanwhile, assets were sold off through undisclosed cash transactions, robbing investors of claims. Various statements, including from depositors, have been recorded as part of the investigation.

The Enforcement Directorate (ED) has attached the opulent Aamby Valley City in Maharashtra, valued at Rs 1,460 crore. The confiscation is a significant move in the ongoing money laundering inquiry targeting the Sahara Group. This case unraveled following over 500 FIRs, with allegations that Sahara Group operated a Ponzi scheme.

Investors were reportedly deceived into reinvesting funds and denied maturity payouts, as per ED findings. The ED alleges Sahara manipulated financial records and siphoned off funds to finance a lavish lifestyle. Meanwhile, assets were sold off through undisclosed cash transactions, robbing investors of claims.

Various statements, including from depositors, have been recorded as part of the investigation. (With inputs from agencies.).