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HomeEconomic FraudEnforcement Directorate Arrests Bihar-Based Builder In Multi Crore Fraud

Enforcement Directorate Arrests Bihar-Based Builder In Multi Crore Fraud

NEW DELHI: In a cheating case, the Enforcement Directorate (ED) arrested Anil Kumar Singh, the managing director of Bihar-based Patliputra Builders Limited and other group firms, under the Prevention of Money Laundering Act (PMLA).

The ED launched its investigation against Anil Kumar Singh based on FIRs and charge sheets submitted by the Patna Police under the Indian Penal Code and the Arms Act.

He has been accused of stealing public funds and failing to allocate flats to buyers despite receiving payment for the purpose.

“During the ED inquiry, the proceeds of crime were identified and valued at Rs 6 crore. Throughout the investigation, Anil Kumar Singh has chosen not to cooperate and has not revealed any truth or information “The ED stated.

Previously, the ED conducted searches at Anil Kumar Singh’s residence.

An income-tax department check on Anil Kumar Singh allegedly turned up properties worth more than Rs 25 crore that were linked to him.

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