India, March 7 -- The Enforcement Directorate (ED) has arrested Ashish Bhalla, promoter of WTC Group, days after multi-state raids in connection with an alleged real estate fraud, people familiar with the development said on Friday.

The agency claimed that the WTC Group collected more than Rs.3,000 crores from various investors across several states such as Haryana, Uttar Pradesh, Chandigarh, Ahmadabad, Punjab, etc., for 15 projects in Delhi NCR, but probe revealed that very few were delivered.

"ED's Gurugram office has arrested Ashish Bhalla, promoter WTC Group under the provisions of Prevention of Money Laundering Act (PMLA) in the case of real estate fraud involving cheating and duping thousands of investors of their monies through w...