ED Files 22 Cases in Builders-Banks Nexus Investigation
NEW DELHI: The Enforcement Directorate (ED) has initiated 22 cases under the anti-money laundering statutes to probe the alleged “unholy nexus” between builders and banks responsible for defrauding homebuyers in the national capital region (NCR), according to officials. The cases, filed under the Prevention of Money Laundering Act (PMLA), arise from an equal number of FIRs by the CBI issued at the end of July, following directives from the Supreme Court. The ED emphasizes that these cases involve significant public interest, with numerous homebuyers allegedly victimized. Investigations will focus on uncovering fraud, corruption, and money laundering activities by builders, banks,…
