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ED busts housing scam in Goa, seizes 72 properties

  •   Sat, May 16 2020 06:10:31 PM

Panaji, May 16 (IANS): The Enforcement Directorate has attached 56 flats and 16 villas at a real estate project in South Goa and bank accounts of the promoters in connection with a money laundering probe, according to the ED here on Saturday.

The probe against Sanatan Financers & Real Estates and its promoters Ankit Kumar and Sunil Kumar had been initiated on the basis of FIRs lodged by buyers, including foreigners, with the Goa Police under section 120-B (criminal conspiracy) and 420 (cheating) of the Indian Penal Code.

"Ankit Kumar and Sunil Kumar received money from several foreign nationals through the foreign direct investment (FDI) route in various shell companies, including Sanatan Financers & Real Estates. It benefited them to the extent of Rs 7.73 crore on account of duping many foreign nationals," the statement said.

Foreign nationals were lured to invest in shell firms, set up by Ankit Kumar and Sunil Kumar, for purchase of flats or villas in the 'Peace Valley' project at Quepem, Goa, the ED said. The ownership of those flats or villas was never transferred to foreign nationals by the project promoters, it added.

Searches were also conducted at the premises of Sanatan Financers & Real Estates and Ankit Kumar as part of the probe uner the Prevention of Money Laundering Act, the RD said.
  

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Comment on this article

  • Manjunatha Pattaabhi Shastry, Bangaloe,/ Gokarna

    Sun, May 17 2020

    If you see 90 percent of the real estate business world over is conning.
    People buy expecting high returns either in rents,or in resale.
    Need-Greed.
    Govt knowingly hand in glove with Pramoters,Specially congress,con men., These siezers,and filling up of cases,all drama, Goa being a small state what is the necessity of that scale of developement? and competing with other states?
    90percent of their Hotel buildings,restaurants have no licence,they dont pay salries,involved in drug rockets, high level protitution, You think Officials at state,and center not aware of this?
    Locals are happy being contended,and their life style has not changed, How can you sell a piece of land to other nationals without checking their background,how did Banks accept their money, keep digging it every one is at fault. Media ,if they get their cut then there is no news,Stop this advertisements ,and focus more on other social issues. Give the generation next peace instead of pieces. Other wise you will be in pieces one day👍

    DisAgree [3] Agree [3] Reply Report Abuse

  • Satish, Mumbai

    Sun, May 17 2020

    One of such scamster is Expat properties. They have duped many NRI citizens and are still duping many operating from Mumbai and Goa.

    DisAgree Agree [4] Reply Report Abuse

  • Sohail, Goa

    Sun, May 17 2020

    These north Indians must be thrown out of Goa as they are maligning it's image. Govt must come down heavily else other genuine projects would suffer. All real estate investments must have a govt certificate and a number which would have a link to govt website to authenticate it's genuinity. This will.give confidence to buyers. Also the punishment for scamsters must be very harsh and non bailable. Else Goa is going to lose very badly

    DisAgree [4] Agree [13] Reply Report Abuse

  • Vinod, TN

    Mon, May 18 2020

    By the way, Mr Sohail,
    Where do you come from ??
    Very easy to classify others for the fault of self ignorance

    DisAgree [2] Agree [4] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, May 16 2020

    North Indians are creating Havoc in Goa ...

    DisAgree [8] Agree [25] Reply Report Abuse


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