The Enforcement Directorate has arrested real estate tycoon Lalit Goyal in connection with a money laundering case. The businessman was arrested after being detained for four days by the investigative agency.
The Enforcement Directorate (ED) has arrested real estate tycoon and chairman of the Ireo group, Lalit Goyal, just days after he was detained at the Delhi airport.
Last week, the airport authorities detained him on the basis of a lookout circular issued against him. He was later questioned by the Enforcement Directorate regarding his involvement in alleged financial fraud in Chandigarh.
Lalit Goel’s Ireo is also under probe by the ED in a Foreign Exchange Management Act (FEMA) violation case. Lalit Goel is also facing allegations of financial fraud by US-based investment companies.
Lalit Goel’s name recently appeared in Pandora leaks in which it has been alleged that he had moved assets worth $ 77 million to the British Virgin Islands through a trust and four entities.
The Indian Government, after the paper leaks, formed a team to investigate all those whose names appeared in Pandora Papers.
Several home buyers have approached court alleging that Lalit Goel’s Ireo has cheated and not giving possession of their houses.