ED Seizes ₹1,460 Crore Aamby Valley Land in Sahara Scam Crackdown
Pune | April 16, 2025: In a significant development in the ongoing investigation against the Sahara India Group, the Enforcement Directorate (ED) has provisionally attached 707 acres of prime land located in and around Aamby Valley City near Lonavala, Maharashtra. The land, valued at approximately ₹1,460 crore, is suspected to have been acquired through benami transactions using funds misappropriated from various Sahara entities.
The ED’s action comes as part of a broader probe into large-scale financial fraud and money laundering linked to the group. The investigation primarily targets the Humara India Credit Co-operative Society Limited (HICCSL)—a Sahara-affiliated financial entity—with multiple FIRs registered across states including Odisha, Bihar, and Rajasthan.
According to officials, over 500 criminal cases have been filed in connection with the group’s activities, more than 300 of which fall under the Prevention of Money Laundering Act (PMLA). Investigators allege that Sahara operated a Ponzi-like scheme, promising high returns to investors. However, many depositors were denied access to their matured funds and were instead pressured to reinvest in new schemes.
To maintain a false image of financial health, the group is accused of manipulating financial records and diverting investor funds into benami assets. The ED further stated that several executives used the diverted funds to finance lavish lifestyles, with many transactions carried out in unaccounted cash.
Recent raids resulted in the seizure of ₹2.98 crore in unexplained cash, and testimonies have been recorded from a range of individuals including investors, agents, and employees.
In a statement, the ED affirmed its commitment to “exposing the full scale of the fraud” and ensuring justice for thousands of investors who were misled and financially harmed.
