Archive · 24 Jul 2025
ED Arrests Universal Buildwell Promoters in Rs 1000 Cr Money Laundering Case
Imagine some people promised to build houses and businesses, taking money from buyers.
They told people the projects would be done quickly and make them money.
But instead of using the money to build, they spent it on themselves.
The government is investigating because they think the people running the project lied and cheated others.
They took over 1000 crore rupees from people by doing this.
Now, these people have been arrested and are being questioned to find out where the money went.
They are also accused of using fake agreements and stealing money to buy things for themselves.
They are now in custody, and the government is trying to figure out what exactly happened.
The Enforcement Directorate (ED) arrested three promoters of Universal Buildwell in a money laundering case.
The case involves over Rs 1,000 crore related to fraudulent fund mobilization from homebuyers.
The accused allegedly made false assurances of project completion by 2010 and promised returns.
The three raised funds through eight real estate projects in Gurugram and Faridabad.
The accused were produced before a special court and remanded to ED custody until July 29.
- Who
- Raman Puri, Varun Puri, and Vikram Puri, promoters of Universal Buildwell.
- What
- ED arrested three promoters of Universal Buildwell in a money laundering case involving over Rs 1,000 crore.
- When
- The arrests were made on Thursday, July 24.
- Where
- Gurugram, India.
- Why
- For allegedly defrauding homebuyers and financial institutions and laundering money.
- Company
- Universal Buildwell Private Limited
- Accused
- Raman Puri, Varun Puri, Vikram Puri
- Charge
- Money laundering, fraud
- Amount Involved
- Over Rs 1,000 crore
- Projects Involved
- Eight real estate projects in Gurugram and Faridabad
- ED Custody Until
- July 29