- The property was bought in 2017 by Jayesh Tanna using about 2.07 lakh pounds from crime proceeds
- The ED probe began in 2024 after FIRs named Sai Group promoters including Jayesh and Deep Tanna
- Sai Group promoters allegedly diverted Rs 85.75 crore from redevelopment projects for personal use
The Mumbai zonal office of the Enforcement Directorate (ED) has attached an immovable property in the UK belonging to Vinod Tanna and his wife in connection with a money laundering case linked to the Sai Group of companies.
The attachment was made on July 16 under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
According to the ED, the attached assets - land and building in the UK - were acquired by Jayesh Tanna in 2017 using proceeds of crime amounting to approximately 2.07 lakh pounds.
The funds were allegedly siphoned off through fraudulent means by cheating genuine investors and flat buyers during the crime period.
The ED launched its investigation in 2024 based on multiple first information reports (FIRs) filed by the Mumbai Police.
The FIRs named Jayesh Tanna, Deep Tanna, and others - promoters of the Sai Group - as the key accused. The Mumbai Police have already filed chargesheets in most of these cases.
Investigations so far have revealed that the promoters of Sai Group misappropriated buyers' funds from their proposed redevelopment projects in Mumbai.
The funds meant for construction and delivery were allegedly diverted for personal use, leading to the failure of project delivery. The scam has caused losses amounting to Rs 85.75 crore, affecting investors, original society members, and buyers across DN Nagar, Andheri, Kandivali, and Goregaon areas.
With this latest action, the total value of assets attached by ED in this case stands at Rs 35.65 crore. Further investigation is underway, the ED said.
Track Latest News Live on NDTV.com and get news updates from India and around the world
