New Delhi, Oct. 2 -- The Enforcement Directorate (ED) on Friday said it had arrested S Vasudevan, Chairman and Managing Director (CMD) and promoter of Ozone Urbana Infra Developers Pvt Ltd, in connection with an alleged homebuyer fraud case worth Rs 927.22 crore.

Vasudevan was arrested on September 30 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002, in connection with the money laundering investigation being conducted against Ozone Urbana Infra Developers Pvt Ltd and Others.

The Enforcement Directorate said the arrest followed an ongoing investigation which revealed that Ozone Urbana Infra Developers Pvt Ltd, along with Vasudevan (main promoter), has defrauded the home buyers to the tune of Rs 927.22 crores and d...