Gurugram, Sept. 18 -- The Enforcement Directorate (ED) on Thursday launched raids on Haryana Lokhit Party (HLP) leader and businessman Gopal Kanda in connection with a real-estate fraud, people familiar with the development said.

The agency's Gurugram office is investigating "a large-scale real estate fraud by Vatika Limited in which investors were induced to invest in commercial projects on assurances of timely possession, assured returns, lease rentals and execution of sale deeds," according to an officer.

"The four projects under investigation involved collection of approximately Rs.248.46 crore from 661 investors, without handing over possession or executing the promised sale deeds till date," he added.

The home, farmhouse and offi...