Manoj Gaur, the former Managing Director of Jaypee Infratech Ltd, was arrested by the Enforcement Directorate (ED) on November 13 in connection with a money laundering case involving an alleged fraud of Rs 14,599 crore against home buyers. The arrest was made under the Prevention of Money Laundering Act (PMLA).

The ED's investigation revealed that funds collected from thousands of home buyers for residential projects were misappropriated and diverted to various trusts, leaving many projects incomplete. Gaur is identified as the Managing Trustee of Jaypee Sewa Sansthan (JSS), which received a portion of these diverted funds.

The agency's probe was initiated based on multiple FIRs filed by the Economic Offences Wings (EOW) of Delhi and Uttar Pradesh Police. These complaints were lodged by home buyers of the Jaypee Wishtown and Jaypee Greens projects, alleging criminal conspiracy, cheating, and breach of trust by the company and its promoters.

According to the ED, approximately Rs 14,599 crore was collected by Jaiprakash Associates Ltd (JAL) and Jaypee Infratech Ltd (JIL) from home buyers, but a significant amount was diverted for non-construction purposes. The funds were allegedly siphoned off to related entities, including Jaypee Healthcare Ltd and Jaypee Sports International Ltd.

Earlier this year, on May 23, the ED conducted searches at 15 locations across Delhi, Noida, Ghaziabad, and Mumbai, including the offices of JAL and JIL. During these searches, a large volume of financial and digital records was seized, which provided evidence of money laundering and fund diversion.

The ED has established that Gaur played a central role in orchestrating the diversion of funds through a complex network of transactions within the Jaypee Group. Following his arrest, Gaur is expected to be presented before a special PMLA court in Delhi, where the ED will seek his custody for further questioning. The ongoing investigation aims to trace the laundered money and identify its beneficiaries, as the case continues to impact thousands of home buyers who invested in the group's projects.