WTC Group promoter Ashish Bhalla arrested in Rs 3,000 crore real estate fraud case

The Enforcement Directorate (ED) in Gurugram on Friday arrested Ashish Bhalla, promoter of the WTC Group, under the Prevention of Money Laundering Act (PMLA) in connection with a massive real estate fraud. Bhalla is accused of cheating and duping thousands of investors through a well-planned conspiracy.

During the investigation, it was found that investors were promised assured returns in exchange for their investments in plots and commercial spaces.

However, instead of delivering on these promises, the funds were allegedly diverted to several shell companies. These companies were used to acquire land in multiple locations.


Further investigations revealed that hundreds of crores were also siphoned off abroad to suspicious entities in Singapore. These entities were found to be owned by Bhalla’s family members. The WTC Group is believed to have collected more than Rs 3,000 crore from investors across multiple states, including Haryana, Uttar Pradesh, Chandigarh, Ahmedabad, and Punjab.

ED’s action and Bhalla’s arrest

Earlier, the ED conducted search operations under Section 17 of PMLA on 27 February 2024. However, Bhalla remained absconding and allegedly tried to influence key individuals against cooperating with the investigation. He was on the run for several days in an attempt to evade legal proceedings.

Investigators found that Bhalla was the key mastermind behind the fraudulent scheme and had made huge unlawful gains. On 6 March 2025, the ED arrested him under Section 19 of PMLA for custodial interrogation. A special court in Gurugram has granted the ED six days of custody for further investigation.