Mohinder Singh’s residence yielded a solitaire diamond worth ₹5.26 crore. Meanwhile, there are suspicions that his wife took 35 diamonds worth crores to the United States.
The Enforcement Directorate (ED) has recovered a total of ₹42.56 crore in cash, diamonds, and gold jewelry from the premises of Mohinder Singh (retired IAS), the former Chief Executive Officer of the Noida Authority, and directors of Hasinda Project Private Limited, which is constructing the Lotus-300 project in Noida. This information was revealed after raids at 12 locations in Delhi, Noida, Meerut, Chandigarh, and Goa on Thursday.
In addition to the diamond, 35 certificates for diamonds were found at Mohinder’s home, although the diamonds themselves were not recovered. Investigators suspect that his wife recently took these diamonds to the U.S.
Sources indicate that, in collusion with Mohinder, the directors of Hasinda defrauded investors to the tune of ₹426 crore in the project. This money was subsequently laundered and invested in diamonds, gold jewelry, and personal properties.
Investors Did Not Receive Flats
Hasinda collected funds from investors but failed to provide them with flats, leading to several lawsuits. Following this, the Allahabad High Court ordered the ED to investigate the matter thoroughly. After filing a money laundering case against the company and its directors, the ED conducted raids on Tuesday, seizing ₹42.56 crore in cash, jewelry, and documents related to properties. They also found incriminating documents and electronic evidence linked to money laundering at both the company’s and Mohinder’s residential premises. During this operation, the premises of the operators of Cloud 9 Projects were also scrutinized, involving individuals like Surpreet Singh Soori, Vidur Bhardwaj, Nirmal Singh, and Aditya Gupta.
Diamonds Purchased from Jewelers in Delhi
The investigation revealed that Mohinder purchased valuable diamonds from a prominent jeweler in Delhi. He stated during questioning that he had been friends with the operators of PC Jewelers for 30 years and had invested in diamonds due to excess cash.
Seizures Made:
A precious diamond worth ₹5.26 crore was found at Mohinder’s residence.
35 certificates for diamonds were also recovered from his home.
Diamonds worth ₹7.1 crore were found at Ashish Gupta’s residence.
Diamonds and gold jewelry valued at ₹25 crore were discovered at Aditya Gupta’s home.
Over ₹85 lakh in cash was seized from all locations.
