The Enforcement Directorate (ED) conducted searches at multiple locations in Delhi-NCR related to a housing society fraud case involving its former president and directors. Documents and digital devices indicating money trails and fraudulent fund diversion were seized during the raids. The properties of individuals like Arun Sharma, Anil Sharma, and Mangal Sain Mittal were covered in the searches.
The ED’s Gurugram unit raided 8 residential and official premises linked to the three individuals and their private business entities across Delhi, Faridabad, and Gurugram. The investigation team seized digital devices, incriminating documents, property papers, audited financials, and evidence of fund diversion during the searches. Additionally, assets worth Rs 6.63 Crore, including cash, gold, jewelry, and silver, were confiscated.
Following an ED probe into financial and housing fraud allegations, the searches were conducted. The accused individuals were booked under various sections of the IPC, 1860, for their involvement in the fraudulent activities. The investigation revealed misappropriation of funds, forgery, and unauthorized sale of memberships beyond the sanctioned limit by the former top office bearers of the society.
The accused were found to have operated a dual payment mechanism for selling flats, collecting payments through official bank accounts and in cash. A total of Rs 90.50 crore has been collected so far, including funds received through banking channels and in cash. The individuals are also being investigated for diverting society funds to businesses under their control or their associates.
