ED raids locations linked to Punjab real estate tycoon Jarnail Singh Bajwa in Rs 600 crore money laundering case
PTC Web Desk: The Enforcement Directorate (ED) has launched a major crackdown on prominent Punjab-based real estate developer Jarnail Singh Bajwa, owner of Bajwa Developers, in connection with a massive Rs 600 crore money laundering case. As part of its ongoing investigation, the central agency conducted multiple raids across several locations linked to Bajwa.
During the raids, the ED seized three luxury vehicles — a Porsche, a BMW, and a Ford Endeavour. In addition, several critical documents were confiscated, which are believed to be key to unravelling the alleged financial fraud.
Jarnail Singh Bajwa is currently in judicial custody. He faces serious allegations of defrauding investors by promising residential flats and plots, allegedly collecting over Rs 600 crore without delivering on those commitments.
Over 44 FIRs have been registered against Bajwa across Chandigarh and Mohali, primarily related to fraud and forgery. Several complaints have also reached consumer courts.
ED officials discovered that the advance payments received from customers were intentionally misrepresented in company records. These funds were reportedly diverted to multiple accounts, including those held by Bajwa’s son and various business entities.
- PTC NEWS
