ED detains 2 in Sahara Group money-laundering case
The Enforcement Directorate (ED) has arrested Vailaparampil Abraham, a top executive at Sahara Group, along with property dealer Jitendra Prasad Verma.
Both are accused of secretly selling off Sahara properties for unaccounted cash and hiding the money.
They were picked up on July 12 and will stay in ED custody until July 14 as the investigation continues.
Abraham organized covert property sales, while Verma handled transactions
According to the ED, Abraham helped organize covert property sales while Verma handled the transactions and moved the money around.
This case is part of a bigger probe into Sahara Group's alleged Ponzi scheme, where investors' money was collected under false promises but never repaid. Instead, funds were used to buy properties and cover personal expenses.
The ED has already seized land worth nearly ₹3,000 crore linked to these activities, and investigations are still ongoing under anti-money laundering laws.