In a dramatic crackdown, the Enforcement Directorate (ED) Kolkata Unit has arrested two senior Sahara Group officials, Jitendra Prasad Verma and Anil Abraham, for allegedly siphoning off millions from the sale of the conglomerate’s properties.

The arrests, announced today, have sent shockwaves through India’s financial circles, exposing a fresh chapter in the long-running Sahara saga. The duo, including Abraham, a former manager at Sahara, faces charges of cheating depositors by pocketing funds meant for them.

Under Supreme Court orders, Sahara’s properties are being sold to repay investors, with proceeds partly credited to SEBI’s account through banks. However, the ED alleges that Verma and Abraham illicitly diverted portions of the cash, reaping personal financial gains through underhanded deals. Following a separate case registered under the Prevention of Money Laundering Act (PMLA), 2002, the ED summoned the accused for questioning.

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After intense interrogations, both were arrested and are set to appear before a special ED court at Nyay Bhavan today, Saturday, July 12, 2025. The roots of this scandal trace back to 2011, when SEBI ordered two Sahara entities—Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd.—to refund investors for illegally raising funds.

The latest arrests underscore persistent allegations of financial misconduct within the embattled group. As the case unfolds, questions swirl about the scale of the fraud and whether more individuals are involved. The ED’s investigation continues, promising further revelations in one of India’s most high-profile financial controversies.

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