Assets worth ₹240.03 crore seized under PMLA; market value estimated at over ₹700 crore as probe into alleged investor fraud deepens.

ED Attaches 389 Properties in the Grand Venezia Money Laundering Case.

The Enforcement Directorate (ED) has provisionally attached 389 immovable properties worth ₹240.03 crore under the Prevention of Money Laundering Act (PMLA) in connection with the alleged Grand Venezia real estate fraud linked to Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, and promoter Satinder Singh Bhasin. The attached assets, currently valued at over ₹700 crore, include five properties in Goa worth ₹37 crore and 384 commercial units in Grand Venice Mall, Greater Noida, valued at ₹203 crore. The ED alleges that investors were lured with promises of assured returns and timely possession but were neither given possession nor refunds. According to investigators, customer funds were diverted through related companies to conceal the money trail and acquire high-value properties. Earlier searches led to the seizure of documents, digital devices, cash, and frozen bank accounts. Satinder Singh Bhasin, arrested in May 2026, remains in judicial custody as the investigation continues.