<h1>Nine Dubai properties worth Rs 51.70 crore provisionally attached under PMLA in corporate-led bank loan fraud causing Rs 1,266.63 crore loss</h1> Nine Dubai residential and commercial properties worth Rs 51.70 crore were provisionally attached under the PMLA after a federal probe alleges a corporate-led bank loan fraud that caused a public sector bank a wrongful loss of Rs 1,266.63 crore. The investigation targets a private company, its directors, guarantors and related entities, with its principal director said to have exercised strategic control and later gifted the Dubai assets to his daughter. Authorities allege the properties were bought with proceeds of crime generated through illegal merchanting trade transactions, diversion of bank funds, fabricated documents, circular trading and layering, and that 12 foreign letters of credit worth about USD 200 million devolved on the bank.