9 months ago
Ex-Jaypee MD, Real Estate Promoter Arrested in Fraud Cases
Two men, Manoj Gaur and Amit Katyal, were arrested for cheating people who bought homes from their companies.
Gaur's company, Jaypee Infratech, took money from people but didn't build their homes.
Instead, they used the money for other things.
Katyal's company, Angle Infrastructure, took money for homes that were never built.
Both men are in jail while the police investigate their cases.
Manoj Gaur, former MD of Jaypee Infratech, sent to 14 days' judicial custody
Arrested for Rs 14,599 crore fraud involving homebuyers
ED alleges funds were diverted for purposes other than construction
Amit Katyal, promoter of Angle Infrastructure, arrested in Rs 300 crore Gurugram fraud case
ED alleges fraudulent bookings and fund diversions in Gurugram project
- Who
- Manoj Gaur (Jaypee Infratech) and Amit Katyal (Angle Infrastructure)
- What
- Arrested for fraud involving homebuyers
- Where
- Delhi and surrounding areas (Noida, Ghaziabad, Mumbai) and Gurugram
- When
- November 13, 2022 (Gaur) and November 16, 2022 (Katyal)
- Why
- Alleged fraud and misuse of funds from homebuyers
Homebuyers' Perspective
Companies' Perspective
Use of funds
Homebuyers' Perspective
Funds were not used for construction
Companies' Perspective
Alleged misuse of funds
Key facts
- Total funds collected (Jaypee)
- Over Rs 33,000 crore
- Total funds collected (Angle)
- Over Rs 300 crore
- Projects involved (Jaypee)
- Jaypee Wishtown and Jaypee Greens
- Projects involved (Angle)
- Krrish Florence Estate and others
- Agency involved
- Enforcement Directorate (ED)
Timeline
ED probes Jaypee Infratech, nabs Manoj Gaur for misusing homebuyers' funds.
Gaur sentenced to 14 days for cheating homebuyers.
Jail time for ex-Jaypee MD in funds misuse case.
Quotes
Enforcement Directorate (ED)
A government agency responsible for enforcing economic laws and fighting financial crimes.
“The project was left incomplete for more than 10 years with only three towers constructed, and this resulted in the initiation of insolvency proceedings by the homebuyers’ association.”
theprint.in
Sources
ED arrests alleged close associate of Lalu Prasad's family in real estate fraud case
Gurugram realty fraud: ED arrests Lalu’s family ‘aide’ in money laundering case
Delhi Court Sends Ex-Jaypee Infratech MD to 14 Days in Judicial Custody
Rs 14,599 cr fraud case: Former Jaypee Infratech MD Manoj Gaur sent to 14 day judicial custody as ED probe intensifies
ED files chargesheet against ex-MUDA commissioner
ED Arrests Lalu Prasad Family Aide in Real Estate Fraud Case
ED arrests Lalu Prasad family 'aide' in real estate fraud case
Delhi court sends ex-Jaypee Infratech MD Manoj Gaur to 14-day judicial custody in money laundering case
ED arrests real estate promoter in ₹300 crore Gurugram fraud case
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Jaypee Infratech Ex-MD Manoj Gaur Arrested in Rs 14,599 Cr Home Buyer Fraud Case
Jaypee Infratech MD Manoj Gaur Arrested by ED for Money Laundering
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