ED arrests builder on charges of money laundering
BENGALURU: The Directorate of Enforcement (ED), Bengaluru, arrested Mahesh B Ojha, head of Karan Group of Builders and Developers, Mumbai, on January 10, in a fraud and cheating case. It involved more than Rs 500 crore, under provisions of the Prevention of Money Laundering Act (PMLA), the ED stated in an official release on Thursday. The special court remanded the accused to 10 days ED custody.
“Multiple FIRs related to fraud and cheating in the name of investment in real estate projects were registered by the Karnataka police. Investigation revealed that the complainant had invested approximately Rs 526 crore in different real estate projects undertaken by various groups and individuals.
Subsequently, this amount was siphoned off by showing it as an amount to be paid to various persons, and collecting cash and commission in lieu of bank entry,” the Central agency added. Ojha was earlier arrested by CID sleuths in Bengaluru and is presently in judicial custody.