ED was planning a raid on C J Roy over suspicion of money laundering

Bengaluru

The Enforcement Directorate (ED) was making preparations to raid deceased real estate tycoon C J Roy, and this may have led him to come under immense pressure from investors.

57-year-old Roy, founder and chairman of the Confident Group, was found dead at his Bengaluru office with a self-inflicted gunshot wound as Income Tax officials conducted searches into alleged tax irregularities. He died on January 30.

The Bengaluru City Police has constituted a Special Investigation Team (SIT) to probe the death of Roy. The police have registered an unnatural death report (UDR). The SIT is tasked with unearthing the cause of his alleged death. The SIT prima facie found that the death was by suicide but is probing further to find out the reasons and circumstances behind the death.

Sources in the Central Vigilance Commission (CVC), speaking to blrpost.com, said, “His business activities had come under the scanner of the ED over suspicion of money laundering. The ED had credible information that he was holding money from some influential politicians from Bengaluru and other parts of the country. He also has links to Kerala and Dubai.”

The sources said the ED was planning to raid about 15 days later (from January 30). The Income Tax (IT) department, on the other hand, was keeping a close tab on his finances for nearly a year. The action by the IT is not sudden. He was also under tremendous pressure from investors. The investors’ confidence was shaken due to the involvement of the IT department.

Roy’s funeral was held on February 1 and was attended by hundreds of people. Mohammad Nalpad, son of the Shantinagar MLA, was prominently seen at the event. Nalpad also expressed shock over his death, saying, “Roy was like a fatherly figure to him.”