LUCKNOW, July 21 -- The Directorate of Enforcement (ED) has provisionally attached 389 immovable properties worth Rs.240.03 crore in connection with an alleged money laundering case linked to a real estate investment fraud involving the commercial complex in Greater Noida. According to the agency, the present market value of the attached assets exceeds Rs.700 crore. The action, taken by the ED's Lucknow Zonal Office under the Prevention of Money Laundering Act (PMLA), includes 384 commercial units and shops in the mall of Greater Noida, valued at about Rs.203 crore, besides five immovable properties in Goa worth around Rs.37 crore, the agency said in a press note issued on Monday. The investigation stems from multiple FIRs registered by the Uttar Pradesh Police and the Delhi Police against two firms of a private builder and realtor, their director and others under charges including criminal conspiracy, cheating and forgery. According to the ED, the key accused, who was director of the firms, launched the commercial complex project at Greater Noida and allegedly induced investors to purchase commercial units by promising assured returns and timely possession. However, after collecting substantial investments, the accused allegedly neither handed over possession of the units nor refunded the money, resulting in heavy losses to hundreds of investors. The agency alleged that customer advances received in the accounts of the two firms were layered through other entities of the same group, to conceal the money trail before being used to acquire high-value real estate in Goa. These properties were purchased in the names of two other firms, which the ED claims were projected as independent entities but were beneficially controlled by the same accused person The ED further alleged that 4,25,152 square feet of prime commercial space comprising 384 commercial units in the Greater Noida mall was fraudulently transferred to another group company, through sham transactions and forged, back-dated agreements. According to the agency, the transfers were intended to keep the assets beyond the reach of the Corporate Insolvency Resolution Process pending before the National Company Law Tribunal (NCLT). The agency had earlier conducted searches at the residential and business premises of the accused, the two companies and their associates in April 2025, during which it seized incriminating documents, digital devices and Rs.36 lakh in cash, besides freezing a bank account of the primary firm. In June 2025, it had provisionally attached properties worth Rs.27 crore in the same case. The ED arrested the key accused under the PMLA in May 2026. He is currently in judicial custody. Further investigation is underway, the agency said....