Hyderabad, March 1 -- The Enforcement Directorate (ED) has attached properties worth Rs 14.63 crore belonging to real estate firm Sai Surya Developers under the provisions of the Prevention of Money Laundering Act (PMLA), in connection with an alleged fraudulent real estate scheme.

According to an official statement, the agency initiated action after allegations surfaced that the firm had cheated multiple depositors by selling the same plots to more than one buyer.

The ED's investigation revealed that the company had collected large sums of money from customers on the promise of registration, but failed to execute the sale deeds as promised.

The probe was launched on the basis of an FIR registered by the state police. During the course...