ED conducts searches in Jaipur against history-sheeter in land fraud cases

Jaipur, Sep 7 (PTI) The Enforcement Directorate has conducted search operations at multiple locations in Jaipur in connection with large-scale land fraud cases allegedly involving "land mafia" Gyan Chand Agarwal, who is facing over 300 FIRs here, and his associates, the agency said.

The searches were carried out on September 3 and 4 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, the Enforcement Directorate (ED) said in a statement.

The ED initiated its probe based on several FIRs filed by Rajasthan Police against Agarwal, a resident of Jaipur, who has allegedly been involved in multiple land grabbing and fraud cases running into hundreds of crores.

Over 300 FIRs have been lodged against him in Jaipur alone, with several others registered across the state, the agency said.

According to the police cases, Agarwal, in connivance with his associates, duped investors by preparing forged documents and giving false assurances. He is accused of cheating various investors of more than Rs 150 crore, officials said, adding that multiple arrest warrants against him are still in force.

The agency alleged that Agarwal collected money from potential investors and corporates in the name of selling land parcels but either failed to transfer the land or sold the same parcels to multiple buyers using forged documents.

During the searches, the ED recovered unaccounted cash, "incriminating" documents related to the acquisition of foreign companies and assets, and evidence suggesting funds were siphoned off abroad through shell companies and invested in businesses, including mining, the agency said.

Digital devices such as hard disks and mobile phones were also seized, revealing large-scale tainted transactions, it said.

The agency said the searches mark a significant step in unearthing a deep-rooted land scam network operating in Rajasthan with possible national and cross-border financial links. PTI AG RT