ED attaches Sai grp promoters, family’s properties in UK | Mumbai News

Mumbai: The Enforcement Directorate (ED) attached immovable property in the UK belonging to Vinod Tanna and his family, in a money laundering case where they via their construction firm, Sai Group, had allegedly cheated flat buyers. The ED sent the provisional attachment details to the UK authorities through the Mutual Legal Assistance Treaty for implementation.The ED in a press release on Thursday stated their investigation revealed that the attached asset, comprising land and building, was acquired by Jayesh Tanna, in 2017 during the crime period by siphoning proceeds of crime amounting to GBP 207,000 to the UK, generated by cheating genuine investors and flat buyers in the case.The ED’s investigation conducted so far revealed that promoters of Sai Group entities resorted to various malpractices to divert funds of flat and shop buyers in its proposed redevelopment projects for personal benefits, leading to non-delivery of the projects and causing wrongful loss to buyers, old tenants (original society members), and investors to the tune of Rs 85.75 crore.Earlier, the ED had attached assets worth Rs 33.89 crore, including agricultural land, residential flats, commercial shops, and a bungalow in Mumbai and Ahmednagar.The ED initiated investigations based on multiple FIRs registered by city police against Jayesh Vinod Tanna, Deep Vinod Tanna (promoters of Sai Group entities), their family members and others for diverting funds of purchasers in its proposed redevelopment projects for personal benefits, thus cheating buyers of Rs 85.75 crore in its projects in D N Nagar, Andheri, Kandivli and Goregaon.