The Enforcement Directorate (ED) has attached properties worth Rs 54 lakh belonging to Jarnail Singh Bajwa, owner of Bajwa Developers, under the Prevention of Money Laundering Act. Following Mohali police fraud cases, investigations revealed that Bajwa, as Managing Director, allegedly defrauded individuals of Rs 3.17 crore by promising residential plots through his firm. Earlier arrested in March 2022, he was rearrested in September. The ED's action signals a crackdown on financial wrongdoing and underscores the need for stringent measures to address corruption in the real estate sector, safeguarding public interests.
In a significant development, the Enforcement Directorate (ED) has taken stringent action by attaching properties valued at Rs 54 lakh that belong to Jarnail Singh Bajwa, the owner of Bajwa Developers, renowned for Sunny Enclave in Kharar. The ED invoked the provisions of the Prevention of Money Laundering Act, 2002 (PMLA) to attach the assets, signalling a relentless crackdown on financial wrongdoing.
The investigation was initiated by the ED following the registration of fraud cases against Bajwa by the Mohali police. During the course of the investigation, it was unveiled that Bajwa, in his capacity as the Managing Director of Bajwa Developers, allegedly engaged in fraudulent activities, deceiving numerous individuals out of a staggering sum of Rs 3.17 crore. Bajwa purportedly accepted money from unsuspecting victims under the pretext of providing them with residential plots, but failed to fulfil his commitments.
The legal noose tightened around Jarnail Singh Bajwa when the CIA staff of Mohali police apprehended him in September, marking a significant breakthrough in the case. Notably, this was not the first time Bajwa faced legal consequences, as he and his son had been arrested earlier in March 2022. Following a stint in jail, Bajwa was granted bail.
The ED's decisive action serves as a deterrent against financial misconduct and underlines the commitment to bring those involved in fraudulent activities to justice. The attachment of properties represents a concrete step towards recovering the ill-gotten gains and ensuring accountability in the face of financial impropriety. As legal proceedings continue, the case against Jarnail Singh Bajwa sheds light on the challenges posed by corrupt practices in the real estate sector and the imperative need for stringent regulatory measures to safeguard the interests of the public.
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