ED Searches 13 Locations Across Three Regions in Alleged NRI Housing Loan Fraud Case

The Enforcement Directorate (ED) on Friday conducted searches at 13 or more locations across Delhi-NCR, Bengaluru and Chandigarh as part of a money laundering investigation linked to alleged fraud involving housing loans obtained in the names of Non-Resident Indians (NRIs).

According to agency officials, the searches targeted two real estate companies based in the National Capital Region (NCR) and other entities allegedly linked to the case.

The investigation centres on suspected fraudulent housing loans allegedly secured using forged documents. The agency is probing the circumstances under which the loans were obtained and the possible involvement of the companies and other persons or entities in the alleged fraud.

The searches were carried out at multiple premises across the three locations as part of the ongoing investigation, the officials said.

The ED investigates money laundering offences under the Prevention of Money Laundering Act (PMLA). In cases involving alleged financial fraud, the agency examines whether proceeds generated through criminal activity were concealed, transferred or used through financial transactions or other means.

However, the agency officials did not disclose the identities of the companies under investigation or provide details of the individuals suspected of being involved in the alleged irregularities.

The amount allegedly involved in the housing loan fraud was also not specified in the available information.