Businessman with Political Connections Arrested in Money Laundering Case
The Enforcement Directorate has taken into custody Amit Katyal, a prominent real estate businessman known for his close associations with RJD chief Lalu Prasad's family. The arrest occurred on Monday under the stringent Prevention of Money Laundering Act (PMLA), marking a significant development in an ongoing financial investigation.
Details of the Arrest and Charges
Official sources confirmed to PTI that Katyal was arrested by the ED's Gurugram zonal office following extensive investigations into alleged financial irregularities. The case centers around accusations that the businessman and his companies cheated numerous homebuyers in Gurugram through fraudulent real estate practices.
The money laundering probe gained momentum after the ED began examining multiple complaints from homebuyers who claimed they had been defrauded by Katyal's real estate ventures. Investigators have been tracing the trail of funds allegedly obtained through these questionable transactions.
Political Connections Under Scanner
What makes this case particularly noteworthy is Katyal's well-documented closeness to Lalu Prasad Yadav's family. The RJD chief and his family have been subjects of multiple financial investigations in the past, and Katyal's arrest brings renewed attention to their business associations.
While the ED has not explicitly named any political figures in their current statements, the timing and nature of the arrest have significant political implications in Bihar and national politics. The investigation continues to explore all angles of the money laundering network.
Under the Prevention of Money Laundering Act, the Enforcement Directorate has substantial powers to detain and question suspects while building its case. The agency typically has 60 days to file a chargesheet following an arrest under PMLA provisions.
This development represents another chapter in the ongoing crackdown on financial crimes in India's real estate sector, particularly focusing on developers accused of misappropriating homebuyers' funds.
