Vivek Oberoi-linked real estate developers face ED action in Mumbai; Rs 19 crore assets attached in massive housing scam

The Directorate of Enforcement (ED) in Mumbai has provisionally attached movable and immovable assets worth Rs 19.61 crore linked to directors, group entities, and others in connection with an ongoing money laundering probe. The case involves Karrm developers, which has been under investigation for financial irregularities in housing projects marketed for lower-middle-class families.

In December 2023, the Bombay High Court criticized the Maharashtra Police for its handling of the large-scale housing scam, which involved Bollywood actor Vivek Oberoi as a partner. Oberoi had endorsed and promoted multiple housing projects under the Karrm brand, including Karrm Residency in Dhasai village, Shahpur, Karrm Panchtatve in Kasagaon, Shahpur, and Karrm Brahmaand at Kelve Road, Palghar. These projects, initially promoted as affordable housing solutions, left over 11,500 buyers in a predicament as the promised nests were never delivered.

Karrm Infrastructure had positioned itself as a key player in the affordable housing sector, targeting the aforementioned faction of homebuyers through its Mission 360 initiative. Authorities, however, allege that the company misled customers by using fraudulent and forged documents, falsely presenting agricultural land as non-agricultural to secure investments.

This deception led to massive financial losses for naïve buyers who had invested their savings in the projects. Following the latest action from the ED, the case has gained renewed attention, with affected homebuyers demanding harsher measures against those responsible. They also hope to recover their losses via the attached properties.

Despite the legal turmoil, Vivek Oberoi continues to focus on his film career. After delivering a striking performance as the antagonist Bobby in Lucifer, the actor shared heartfelt appreciation for L2: Empuraan, the Mohanlal-starrer sequel currently running in theaters. Taking to X, formerly Twitter, Oberoi expressed his gratitude for being a part of the Lucifer universe and reminisced about his experience working on the first film.

“It was an absolute pleasure being a part of the incredible journey that was Lucifer, and bringing Bobby to life was a truly special experience for me. While I’ve explored darker characters, this one felt very different, and the love I received from the people of Kerala was truly heartwarming,” he penned.

L2: Empuraan mentions Oberoi’s character, but he does not have a physical presence in the outing.