New Delhi/Lucknow, Aug 13 (PTI) The Enforcement Directorate on Wednesday conducted searches against an Uttar Pradesh-based realty group as part of a money laundering probe against it for allegedly duping investors to the tune of Rs 248 crore, official sources said.

At least eight premises in Lucknow and two in Delhi are being searched in the case against Rohtas Projects Ltd., the sources said. The action is being carried out under the Prevention of Money Laundering Act (PMLA), they said.

The money laundering case stems from as many as 87 FIRs filed by home/commercial space buyers since 2021 alleging they were duped and not given their properties.

As per a forensic audit conducted by the UP RERA (Uttar Pradesh Real Estate Regulatory Authority), the "proceeds of crime" in this case is Rs 248 crore, the sources said.

The searches are being conducted with an aim to find evidence and the assets of the promoters for attachment as they are "absconding" since the last four years, the sources claimed.

The promoters of the company have been identified as Piyush Rastogi, Paresh Rastogi and Deepak Rastogi.

The promoters or their legal representatives could not be contacted immediately for a comment on the ED action against them. PTI NES DV DV

Money laundering probe under PMLA targets realty group; searches and asset tracing conducted to investigate alleged buyer fraud. A money laundering investigation under the PMLA targets an Uttar Pradesh realty group after numerous FIRs and a UP RERA forensic audit identifying the proceeds of crime at Rs 248 crore; coordinated searches aim to collect evidence and trace assets for attachment given promoters are reported absconding.