<h1>ED invokes Prevention of Money Laundering Act to file 22 cases over alleged builders-bank subvention loan frauds against homebuyers</h1> The Enforcement Directorate has invoked the Prevention of Money Laundering Act to file 22 cases based on Central Bureau of Investigation FIRs, probing an alleged builders-bank nexus that purportedly defrauded numerous homebuyers under subvention loan schemes. The ED will investigate alleged fraud, corruption and money-laundering by developers, banks and others, seek attachment of illicit assets and pursue restitution where possible. The action follows a Supreme Court direction converting multiple preliminary enquiries into formal cases; the CBI's probe reportedly examined over 1,000 people and 58 project sites amid petitions by more than 1,200 buyers who say they were forced to continue EMI payments despite not receiving possession.