THE AMAN SANDESH TIMES
Zirakpur, 9 Nov The Enforcement Directorate (ED) has achieved a major breakthrough in its ongoing money laundering probe against Zirakpur-based real estate company GBP Group. ED has taken possession of two properties worth Rs 305 crore, Athens-1 and Athens-2, belonging to the absconding builders. The action was taken after the fugitive directors of the company and their associates were found to be involved in illegal activities.
The ED investigation revealed that the GBP Group was siphoning off money from its investors and using it for personal gain. This has caused a huge loss to the investors who had invested their hard earned money in the company’s projects. The ED has also found evidence of the company’s involvement in money laundering and other financial irregularities. As a result, the agency has seized properties of runaway builders to recover investors’ money.
The ED’s move has given a ray of hope to investors who are struggling to get their money back from GBP Group. The agency’s action has not only sent a strong message to builders and their allies, but also restored investor confidence in the justice system. The ED has assured that further investigation is underway and strict action will be taken against those found guilty. The agency has also appealed to investors to come forward and provide any information or evidence that would help in the investigation.
Seizure of properties of absconding builders by ED is an important step towards bringing them to justice and getting back the hard earned money of the investors. The agency’s efforts to crack down on financial crimes and money laundering have been commendable and this action against GBP Group is a testament to their commitment. ED has once again proved that no one is above the law and those involved in illegal activities will be brought to justice.
