<h1>Enforcement Directorate raids real estate firm under PMLA for alleged Rs 248 crore fraud and money laundering</h1> The Enforcement Directorate conducted searches at multiple locations linked to a real estate company based in Uttar Pradesh as part of a money laundering investigation under the Prevention of Money Laundering Act. The probe follows numerous complaints filed by buyers alleging the company failed to deliver promised residential and commercial properties, resulting in a total alleged fraud of Rs 248 crore. A forensic audit by the state real estate regulatory authority confirmed the amount as proceeds of crime. The agency aims to recover assets and gather evidence, noting that the company's promoters have been absconding for several years. Legal representatives of the promoters were not available for comment.