Lucknow. The Enforcement Directorate (ED) has recovered documents of properties worth more than Rs 100 crore during raids at the Kalpataru Group and its associates who had duped investors of more than Rs 1000 crore. Most of these properties are lands bought in Agra and Mathura. The defrauded money was invested in commercial and agricultural land. Apart from these, ED has also found digital documents of properties, which are being investigated.
According to ED officials, a total of Rs 1.02 crore has been recovered during the raids. Of these, the maximum amount of Rs 85 lakh was recovered from the residence of Agra real estate businessman Shivam Agarwal, while about Rs 17 lakh was recovered from the residences of property dealers Harendra Tarkar and Ramveer Tarkar.
Raids at 16 locations
ED investigation has revealed that Shivam Agarwal had bought a large land of Kalpataru Group in Mathura. It is suspected that a fake authority letter was used to buy the land. On Wednesday, ED raided 16 locations in Agra, Mathura and Noida in connection with the fraud with investors, which continued till late night.
ED searched the Noida residence of Mithlesh Singh (currently imprisoned), wife of late Jai Krishna Singh Rana, director and main accused of Kalpataru Buildtech, besides the locations of associates, chartered accountants (CA) and agents.
Among these, CA Devendra Garg, Suman Prabha Sharma, Harendra Tarkar, Ramveer Tarkar, Prakhar Garg and Shivam Agarwal were especially searched. According to ED officials, documents of 88 immovable properties have been found in the raid, which are worth more than Rs 100 crore. Apart from these, digital/electronic evidence of about 150 properties have been found, whose value is being assessed.
Benami properties are also being investigated
Sources say that ED has also got hold of documents related to many benami properties, which are also being investigated. There is also a message of selling many valuable properties bought with the money of investors by the associates of the main operator Jai Krishna after his death. Information is also being gathered about this.
ED had started its investigation by registering a case of money laundering on the basis of cases filed by investors in Agra and Mathura. So far 74 cases have been registered, in which facts of fraud of Rs 681 crore came to the fore. Investors had filed cases against Jai Krishna, Bhikham Singh, Bipin Kumar Yadav and others.
More than 50 fake companies were opened
ED investigation revealed that Jai Krishna had created more than 50 fake companies. Many of these companies were opened in the name of his employees and illiterate relatives. A large part of the money defrauded from investors was diverted through fake companies. In March 2023, ED had seized properties worth Rs 84 crore of Kalpataru Group. ED has already filed a chargesheet in Ghaziabad’s special court against accused Devendra Garg, Deepak Kapuria, Mithlesh Singh and others in the case.
Kalpataru Group had duped people by promising to provide flats at cheap rates in Mathura’s Churmura Farah village and promising monthly returns on booking. BJP MLA Puran Prakash from Mathura’s Baldev assembly seat was also questioned in the ED case.
