Court Halts Money Laundering Case Against Developers in Real Estate Fraud
February 16, 2025 - 09:07
The Enforcement Directorate (ED) has faced a significant setback in its efforts to prosecute individuals involved in a multi-crore real estate scam. In 2022, the ED filed a prosecution complaint against Lalit Goyal and several others under the Prevention of Money Laundering Act. A supplementary complaint was also submitted in 2023, aimed at further strengthening the case against the accused.
However, the PMLA court in Panchkula has now stayed the money laundering trial, raising questions about the future of the investigation. This decision comes as a surprise to many, given the scale of the allegations and the impact on numerous investors who were affected by the fraudulent activities. The case has garnered significant attention due to its implications for the real estate sector and the enforcement of financial regulations.
As the legal proceedings unfold, stakeholders are keenly observing how this ruling will influence similar cases in the future and the broader fight against financial crimes in the country.
MORE NEWS
November 1, 2025 - 14:44
Insiders Invest $2.98 Million in NexPoint Diversified Real Estate Trust Amidst Unexpected Stock DeclineInsiders who acquired approximately $2.98 million worth of NexPoint Diversified Real Estate Trust stock may not have anticipated the recent 11% decline in share value. This significant investment,...
October 31, 2025 - 20:45
Real Estate CEO Claims Gen Z's Housing Challenges Are Similar to Past GenerationsFor Gen Z and younger millennials, buying a home can feel nearly impossible. With mortgage rates hovering at 6.35% and the median U.S. home price exceeding $415,000, many are opting to rent longer...
October 31, 2025 - 00:59
Real Estate Industry Faces Challenges Due to Insufficient Due DiligenceDuring a recent discussion at the Yale Real Estate Conference, a panelist highlighted significant shortcomings within the private real estate sector, attributing current fundraising difficulties to...
October 30, 2025 - 06:07
Inside Stephen King's Unique Real Estate TransformationThe acclaimed author and his wife made a significant change to their living space in 2019 by transforming their cherished home into a nonprofit archive and writer’s retreat. This decision not...