Why did Roop K Bansal get arrested? M3M Owner charged
Recently the public is going through the internet to know about Roop Bansal who has been arrested recently. They all are going through the internet to know more about this arrest and not only that they all are also going through the internet to know about him. Many people also went through the internet to know the reason behind his arrest as this was very shocking for everyone. In this article, we are going to give the information about him. Not only that we are also going to give the details about his arrest in this article to our readers. So, keep reading through the article to know more.
M3M Owner Roop K Bansal arrested
This comes after the ED searched seven properties owned by the real estate firms IREO Group and M3M Group in Delhi and Gurugram. In a case involving the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate (ED) has detained Roop Bansal, the promoter of the real estate company M3M. This comes after the ED searched seven properties owned by the real estate firms IREO Group and M3M Group in Delhi and Gurugram. Officials claim that the firms were under investigation for allegedly siphoning off, diverting, and misappropriating funds. IREO Group and M3M Group were found to have laundered more than Rs 400 crore, according to the ED.
It should be mentioned that IREO Group has been the target of numerous FIRs, which prompted an ED inquiry. The financial investigation agency has also claimed that the M3M group was used to launder hundreds of crores worth of money. “The ED investigations revealed that M3M Group got around Rs 400 crore from IREO Group in one of the transactions through numerous shell firms in multiple layers. The transaction was recorded in IREO’s books as payments for development rights, according to the coordinating body. The ED also stated that the M3M group held the land, which had a market value of about Rs 4 crore.
“M3M Group first paid five shell firms a total of Rs 10 crore for the development rights to the aforementioned land. It was asserted that there is no connection between the businesses. Investigations have shown that M3M Group ran the five sham firms. Following that, it is claimed that five shell firms sold the IREO Group the development rights to the same site for around Rs 400 crore. The IREO Group gave the shell firms Rs 400 crore, which they quickly moved using several layers to the M3M Group, according to the agency.
