Anil Mithas, a key promoter of a leading Noida-based real estate firm, has been arrested under anti-money laundering laws by the Enforcement Directorate (ED). The arrest is related to an investigation into the alleged misappropriation of Rs 107 crore, which was diverted from home buyers.
The case is linked to several FIRs filed by a Special Investigation Team in Uttar Pradesh, accusing Unnati Fortune Holdings Limited and its promoters of defrauding home buyers in a large-scale scam. An audit uncovered significant financial diversion from funds initially intended for a major residential development project.
According to the ED’s investigation, a portion of the Rs 522.9 crore raised for the project was misused, with funds redirected through fake loans and advances. This led to severe project delays and fraudulent sales, affecting multiple buyers. The resulting financial strain has severely impacted the families involved.
