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ED Seizes ₹1,460 Crore Worth of Land in Sahara Group Money Laundering Probe

The attachment of 707 acres in Aamby Valley City marks a significant escalation in the investigation into alleged Ponzi schemes and financial misconduct by the Sahara Group.

Billed as independent India’s first planned hill city, Aamby valley City comprises three man-made lakes and 11 water bodies in the picturesque Sahyadri range. (Photo credit: aambyvalley.com)
Money laundering by Sahara group: ED attaches ₹1,460-cr Aamby Valley property
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Overview

  • The Enforcement Directorate (ED) has attached 707 acres of land in Aamby Valley City, Lonavala, Maharashtra, valued at ₹1,460 crore, under the Prevention of Money Laundering Act (PMLA), 2002.
  • The land was allegedly purchased using funds diverted from Sahara Group entities and registered under benami names, according to ED findings.
  • Investigations revealed that the Sahara Group was operating a Ponzi scheme through multiple entities, defrauding depositors by promising high returns and manipulating accounting records.
  • More than 500 FIRs have been filed against Sahara Group entities, with over 300 related to scheduled offenses under the PMLA, highlighting widespread allegations of cheating and conspiracy.
  • The ED alleges that funds collected from depositors were siphoned off to create benami assets and finance personal extravagance, while maturity payments were denied or reinvested without consent.