ED attaches properties worth Rs 8.18 cr of Arun Agarwal in money laundering case
Mar 30, 2021
New Delhi [India], March 30 : The Enforcement Directorate (ED) on Tuesday attached several properties of Arun Kumar Agrawal, the proprietor of Vaibhav Enterprises, and his other associated companies and persons worth Rs 8.18 crore in connection with a money laundering case.
According to the statement of an ED official, the agency has attached 14 bank accounts having balance worth Rs 1.1 crore, and seven immovable assets worth Rs 7.08 crore, including residential and commercial properties in Jaipur and Udaipur.
He stated that the ED had registered a case on the basis of multiple FIRs registered by the Rajasthan Police against Agrawal and his associated firms and persons.
According to the ED, it was alleged that Agrawal with the collusion of other associated persons and family members had conspired to float the above-mentioned company wherein the general public were to invest money. These investors were promised that they would be given benefits of 9 per cent to 18 per cent as interest and sometimes even 24 per cent per annum payable on a monthly basis.
The official said that during the money laundering probe, it was noticed that Agrawal was associated with Aetrio Real Corp Pvt Ltd, Vaibhav Hugemovers Pvt Ltd, Techradius High Tech Pvt Ltd, Routevisor Logistics Pvt Ltd, Truvic Capital Pvt Ltd, and Vaibhav Nidhi India Pvt Ltd as the director with his main partner Amit Gautam and his brother Neeraj Agarwal.
Numerous bank accounts were opened by the accused person in the name of the above firms or companies and associated persons and money was transferred to each other's bank accounts for layering of funds, the official added.
