Former Film Financier Yusuf Lakdawala Arrested By The Enforcement Directorate
Former film financier and builder, Yusuf Lakdawala, arrested by the Enforcement Directorate for money laundering and land grabbing.
A former film financier, Yusuf Lakdawala, was recently arrested by the Enforcement Directorate of India, in a money laundering and land grabbing case. The land in question is situated in Khandala, Maharashtra, and belonged to a former Nawab of Hyderabad. Read on to know more about this case.
Yusuf Lakdawala, the former film financier and builder, after he was arrested by the ED, was produced before a district court. The court ordered him to remain in ED custody till June 2. In 2019, the Economic Offences Wing of the Mumbai Police had filed an FIR against Yusuf Lakdawala for fraud and forging documents of land worth Rs 50 crores, in Maharashtra’s hill station, Khandala, of Pune district.
The land, which is spread across nearly 4.4 acres of carpet area, is said to belong to the family of a former Nawab of Hyderabad, Himayat Nawaz Jung Bahadur. The police found during their investigation that Yusuf Lakdawala, with the help of some government officials, forged documents of this land, which said that Lakdawala’s father had bought this land in 1949 and later gifted it to the Nawab of Hyderabad.
The ED also said that they found during their investigation that Yusuf Lakdawala has also built a lot of fake companies and that despite not doing any profitable business, these companies were found to have crores of Rupees in their bank accounts, indicating money laundering.
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