Absconding realtor couple owns two dozen properties in UP: ED

LUCKNOW The Enforcement Directorate (ED) has found that city-based real estate firm JKV Land Developers & Infrastructure Pvt Ltd and its director couple Rajesh Kumar Singh and Priyanka Singh own around two dozen properties across UP. Documents of purchase were recovered during the multiple raids carried out at the firm’s offices and other properties owned by it.

JVK Land Developers is accused of siphoning off around Rs 700 crore obtained from thousands of investors from all over UP as well as other states. The ED acted after a fraud and forgery police complaint was registered against the firm and its directors.

They were accused of floating multiple investment schemes in Mau district a few weeks ago. Raids were undertaken at the company’s 39 offices and the directors’ residences. The crackdown started on Thursday and continued till Friday morning.

However, the realtor couple is still to be detained, as they were not found in any of their known hideouts, said officials.

A senior ED official said that many incriminating documents related to investments made by the company and its directors in properties in Lucknow, Mau, Jaunpur and other places in UP have been seized. He said the accused had also purchased a big plot at Tedhi Pulia, Lucknow, in the name of the company and entered into a memorandum of understanding with a prominent builder for constructing 70 flats. Of these, Rajesh Kumar Singh and his company are stated to own more than 30 flats.

“Rajesh was also running a credit cooperative society, besides various other companies. The money so collected is suspected to have been used in establishing a degree college in Mau. Several bank account records have been recovered and are under scrutiny,” he said, adding the firm had promised houses / return of invested amount within a definite time period.

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DUO LET OFF BY POLICE?

Investors alleged that the couple was let off by city police after being taken into custody around two months ago. A group of investors had complained to the ED about the role of a deputy SP and an inspector who allegedly helped free the couple after they were brought to Gudamba police station. “The couple offered two flats to a city police official and was easily let off,” said a complainant. The investors said they approached the ED officials after getting no help from the city police in the matter.