ED Strikes Jaypee Group: Raids at 15 Sites in ₹12,000 Crore Fraud Probe

Noida (The Uttam Hindu) : The ED team in Noida has taken major action against Jaypee Group. The ED team has taken this action in the case of a scam of about Rs 12,000 crore. There are allegations of cheating homebuyers and investors and misappropriation of funds.

The ED team is simultaneously raiding 15 locations of Jaypee Infratech, Jaypee Associates Limited and their associated companies like Gaursons, Gulshan, Mahagun and Suraksha Realty located in Delhi-NCR and Mumbai.

The ED suspects that money laundering has been done by diverting a huge amount of funds. This action has come as a ray of hope for thousands of homebuyers who have been waiting for their home for years.