Ghaziabad | The Enforcement Directorate (ED) carried out coordinated search operations at four locations on Thursday in connection with a major alleged land and real estate scam in Ghaziabad, Uttar Pradesh. The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), 2002, and led to the seizure of key documents, property records, and financial transaction papers linked to the case.
According to the ED, the raids were conducted at premises associated with office-bearers of Seva Suraksha Sahkari Awas Samiti across Ghaziabad, Noida, and Delhi. Preliminary findings suggest that a network was allegedly used to mislead investors and members through false promises related to land development and housing projects.
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As per the FIR, Sandeep Singh, Director of M/s Shrasth Propbuild Private Limited, has been identified as the principal beneficiary and key conspirator in the alleged scam. He is accused of luring members of the cooperative society, which reportedly included retired officers of the Sashastra Seema Bal (SSB), by promising a large-scale housing project.
Under the alleged arrangement, the plan was to construct 264 residential flats on half of the society’s land, while granting development or sale rights over the remaining portion. Based on this agreement, land transfer and investment processes were initiated.
However, ED investigations have alleged that the agreed terms were not followed. Instead of completing the housing project, the accused allegedly sold a significant portion of the land to third parties. The agency stated that around 41,000 square metres of land was unlawfully sold, indicating large-scale financial irregularities and suspicious money flows.
During the searches, ED officials recovered multiple documents related to fund movement, property transactions, and corporate financial records. These materials are now being examined to trace the flow of alleged illegal proceeds and identify beneficiaries across companies and individuals.
Officials further stated that the investigation is still at an early stage and more individuals may come under scrutiny as the probe expands. The agency is also examining whether banking channels and shell companies were used to route and layer proceeds of crime.
The case has triggered concern in the real estate sector, as it involves alleged misuse of cooperative housing societies and land development agreements. Authorities believe that such schemes often target investors and retired employees by offering attractive housing projects that later turn into fraudulent land diversion operations.
The ED has initiated forensic and financial analysis of all seized documents to verify authenticity and establish the full trail of transactions. Further questioning and possible arrests are expected as the investigation progresses.
Officials reiterated that efforts are underway to uncover the complete network and identify the ultimate beneficiaries behind the alleged fraud.
