Haryana Real Estate Scam: ED Seizes Properties and Cryptos Worth Over Rs 10 Crore
Enforcement Directorate attaches properties and crypto in major land fraud case.
The Enforcement Directorate on Tuesday attached assets valued at Rs 10.86 crore in connection with a land fraud investigation involving the cheating of homebuyers in Haryana. The action was taken under the Prevention of Money Laundering Act, 2002, following an FIR lodged by Haryana Police against key accused Sandeep Yadav, Manoj Yadav, and others. The attached properties include a flat and land parcels worth Rs 6.06 crore, along with cryptocurrencies held in digital wallets in the form of Ramifi Tokens valued at Rs 4.79 crore.
Investigations by the ED revealed that Sandeep Yadav, Manoj Yadav, and Mohan Sharma, in collusion with their close associates, allegedly deceived numerous members of the public through fraudulent land deals. The accused reportedly collected money from homebuyers under false pretences and then diverted the illicit proceeds into various investments to conceal their origins. These funds were channelled into both movable and immovable assets as well as cryptocurrency holdings.
The case highlights a pattern of organised fraud targeting unsuspecting buyers in the real estate sector. Authorities identified that the generated proceeds of crime were systematically laundered through legitimate-looking transactions and digital assets to obscure the trail. The attachment order aims to freeze these assets pending further proceedings and prevent the accused from benefiting from the alleged criminal activities.
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The ED initiated its probe based on the Haryana Police FIR, which detailed the cheating and conspiracy elements involved. Multiple individuals are under scrutiny for their roles in the scheme, which exploited trust in property transactions. The agency continues to trace additional proceeds of crime and examine the full network of associates linked to the fraud.
This latest attachment underscores the Enforcement Directorate's ongoing efforts to combat money laundering in real estate-related scams across the country. By targeting both conventional properties and emerging digital assets like cryptocurrencies, the probe seeks to disrupt the financial backbone of such criminal enterprises and provide relief to affected homebuyers through eventual recovery mechanisms.
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