Ripping the lid off a scam involving the sale of same flats to multiple buyers without their knowledge, the Enforcement Directorate (ED) has arrested a prominent builder in Navi Mumbai in a Rs 50 crore alleged money laundering case.
A day after it arrested Monarch Universal Group’s Director Gopal Amarlal Thakur under the Prevention of Money Laundering Act (PMLA), the ED on Friday produced him before a special PMLA court which remanded him to its custody till July 8. The ED initiated investigations against M/s Monarch Universal Group (MUG) after the Maharashtra police lodged FIRs and filed charge-sheets against the ground under the provisions of Indian Penal Code (IPC) for alleged cheating and defrauding genuine flat owners.
M/s MUG allegedly collected money from the flat buyers but did not register the flats in their names after sufficient time lapse.
During its investigations, the ED found that…