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The Enforcement Directorate has arrested Manoj Gaur, Managing Director of Jaypee Infratech Ltd, in connection with a money laundering case, official sources said on Thursday. The businessman was taken into custody under the Prevention of Money Laundering Act (PMLA), the sources added.
The investigation relates to an alleged fraud involving home buyers.
The ED has alleged that Jaypee Associates Ltd, through Manoj Gaur, is involved in a Rs 12,000-crore fraud, including diversion and siphoning of home buyers’ funds.
(More inputs to be added)
