A Fraudulent Dream: The Rise and Fall of Ashish Bhalla and the WTC Group

Read Anti-bribery & corruption Sanctions & Fines

Date: 7th Mar, 2025 Source: In-House Country: India

Brief

"On "07/03/2025", the "Enforcement Directorate (ED)" issued an update regarding "ED, Gurugram has arrested Ashish Bhalla, promoter of WTC group of companies on 06.03.2025 under the provisions of PMLA, 2002 in the case of Real Estate fraud and cheating involving WTC Faridabad Infrastructure Pvt. Ltd. and others of more than Rs. 1000 Crore". The Hon'ble Special Court, Gurugram granted ED custody of 6 days to the accused. Investigations revealed a complex web of shell companies, diversion of funds abroad, and unlawful gains made by Ashish Bhalla through the fraudulent scheme."

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A Fraudulent Dream: The Rise and Fall of Ashish Bhalla and the WTC Group

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