Why did Roop K Bansal get arrested? M3M Owner charged 2023

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Recently, public opinion is searching online to know about Roop Bansal, who was recently arrested. They all went on the internet to know more about this arrest and not only that they also went on the internet to know about him. Many people also went online to know the reason behind his arrest as this shocked everyone. In this article we will provide information about him. Not only that, we have also provided details about his arrest in this article for our readers. So, continue reading through the article to know more.

M3M Roop owner K Bansal was arrested

This comes after the ED raided seven properties owned by real estate companies IREO Group and M3M Group in Delhi and Gurugram. In a case related to the Prevention of Money Laundering Act (PMLA), the Enforcement Directorate (ED) has arrested Roop Bansal, founder of real estate firm M3M. This comes after the ED raided seven properties owned by real estate companies IREO Group and M3M Group in Delhi and Gurugram. Officials announced that the companies were being investigated for allegedly siphoning, diverting and embezzling funds. According to ED, IREO Group and M3M Group were found to have laundered over Rs 400 billion.

It is pertinent to mention that IREO Group has been the target of multiple FIRs, which has prompted an investigation by the ED. The financial investigation agency also claimed that the M3M group was used to launder money worth hundreds of crores. “ED investigations revealed that M3M Group received around Rs 400 crore from IREO Group in one of the transactions through multiple shell companies at multiple levels. According to the coordinating agency, this transaction was recorded in IREO’s books as payment for development rights. The ED also claimed that the M3M group holds land with a market value of around Rs 4 crore.

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“M3M Group first paid five shell companies a total of Rs 10 billion for development rights over the said land. It can be confirmed that there is no connection between businesses. Investigations have shown that M3M Group operated five fake companies. It was later claimed that five shell companies sold IREO Group the development rights for the same site for around Rs 400 crore. According to the agency, IREO Group gave shell companies Rs 400 crore, which they promptly transferred in multiple layers to M3M Group.