Unitech MD Sanjay Chandra arrested for alleged money laundering, to be produced in court todayUnitech MD Sanjay Chandra and two others face charges of illegally diverting funds from one project into a shell company which then parked it in foreign accounts
The economic offences wing (EOW) of the Delhi Police on Friday arrested Unitech Managing Director and two others on charges of illegally diverting funds from one project into a shell company which then siphoned it off into foreign accounts.
Delhi Police is expected produce Chandra in Delhi’s Patiala House court in the second half of the day today.
Chandra is accused of duping buyers who had purchased flats at the developer’s project in Greater Noida.
The top boss of the real estate major was also arrested in January last year for alleged cheating and spent a night in the Tihar jail before securing an interim bail.
Back then, a case was filed against Unitech Ltd chairman Ramesh Chandra, managing directors Sanjay Chandra and Ajay Chandra and director Minoti Bahri by chartered accountant Sanjay Kalra and his business partner Devesh Wadhwa.
Kalra and Wadhwa had booked a property in Habitat Apartments in Greater Noida developed by Unitech. The project was delayed but the company had allegedly refused to refund the amount, as promised with 11 per cent per annum interest.
The Unitech MD is also accused in the 2G telecom spectrum scam. Chandra had bid and won telecom spectrum which he later sold to Norwegian firm Telenor.