Hyderabad, Oct. 31 -- The Enforcement Directorate (ED) has identified plots and villas worth around Rs 5 crore in Hyderabad allegedly acquired using proceeds of a cyber fraud in which a Kerala-based complainant was cheated of more than Rs 24.76 crore.

The ED's Kochi Zonal Office conducted searches at three premises linked to Allamraju Satyanarayana Murthy in Hyderabad on October 28 under the Prevention of Money Laundering Act (PMLA). Murthy is an accused in a cyber fraud case registered by the Cyber Police Station in Ernakulam, Kerala.

According to the ED, the case originated from a complaint lodged by Nimesh, who alleged that he was approached through phone calls and Telegram messages and persuaded to invest in online trading through w...