ED arrests Satinder Singh Bhasin in alleged money laundering case
Business
Satinder Singh Bhasin, the man behind Noida's Grand Venice Mall, was arrested by the Enforcement Directorate (ED) on May 29 for alleged money laundering.
This comes after the Supreme Court directed the ED to take him into custody, after the probe agency said Bhasin was not cooperating with the investigation into the mall project.
Bhasin faces provisional 44cr property attachment
Bhasin and his company are accused of taking crores of rupees from investors for real estate projects that never got finished.
Instead of using the funds as promised, investigators say he moved the money around through other companies.
A property worth over ₹44 crore in Delhi has already been provisionally attached, and Bhasin will stay in ED custody until June 6 while they keep digging into what happened.