New Delhi, Lucknow:The Enforcement Directorate (ED) on Wednesday conducted multiple raids against Uttar Pradesh-based realty group Rohtas Projects Ltd as part of a money-laundering probe into allegations that it duped investors of Rs 248 crore.
According to agency sources, at least eight premises in Lucknow and two in Delhi were searched in connection with the case. The action was carried out under the Prevention of Money Laundering Act (PMLA).
The money-laundering case stems from as many as 87 FIRs filed since 2021 by home and commercial space buyers, alleging they were cheated and not handed over their properties.
As per a forensic audit conducted by the Uttar Pradesh Real Estate Regulatory Authority (UP RERA), the “proceeds of crime” in the case amount to Rs 248 crore, the sources said.
The searches were aimed at gathering evidence and tracing the assets of the promoters for attachment, as they have been “absconding” for the past four years, the sources claimed.
The promoters of the company have been identified as Piyush Rastogi, Paresh Rastogi, and Deepak Rastogi.
