LUCKNOW: Enforcement Directorate (ED) officials raided residential and office premises of the directors of a realty firm, JKV Infrastructure Development Private Limited, in Lucknow on Friday. Three teams of ED officials accompanied by police force conducted simultaneous raids at the three locations.The ED team reached the Sahara Estates, Jankipuram, residence of the company’s directors Rajesh Kumar Singh and his wife Priyanka Singh and recovered Rs 25 lakh in cash and seized documents.A second team of enforcement directorate officials raided the company’s office near Lucknow Public School in Jankipuram while a third team conducted search at the flats constructed by the company in Tedhipulia. The officials seized property papers from the company office and its flats. ED officials told TOI that the company had collected crores from public on the fake promise of providing them cheap homes and alluring them of high interest rates, and much better returns than bank deposits. The firm has been in the business since 2014.In all, the amount of money laundering could be pegged at Rs 700 crore, said officials. An enforcement case information report (ECIR) has been registered against the directors of the company Rajesh Kumar Singh and his wife Priyanka Singh under Prevention of Money Laundering Act, 2002. The ED was given the case after an FIR of amassing wealth was registered against Singh and his company in Mau.The company had also signed an MoU with another privatecompany for constructing flats. “In all, 70 flats were built out of which 40 were exclusively constructed by JKV while 30 others were in partnership,” officials told TOI. They also said that the firm’s establishments in Jaunpur , Varanasi and Mau might also be raided. The company also has infrastructure development business in Raipur and Haryana . It’s Adi Shakti Medical college in Mau is also under the scanner of enforcement directorate.

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