Bengaluru: The Directorate of Enforcement (ED) last week attached immovable properties of M/s Ozone Urbana Infra Developers Pvt Ltd and others, including its promoter S Vasudevan, worth Rs 423.4 crore under the Prevention of Money Laundering Act (PMLA) for defrauding home buyers of Rs 927 crore.ED initiated an investigation based on multiple FIRs under charges of cheating registered at various police stations in Bengaluru against the firm and its promoters, and an FIR registered by the CBI on the direction of the Supreme Court. It is alleged that the company induced gullible customers by offering to pay pre-construction EMIs until handing over possession of the flats. But it did not complete the project. The builder did not refund the amount deposited by the buyers. ED conducted raids on various properties of the firm on Aug 1. The accused diverted the funds to other group entities and associated individuals. The immovable properties include the unsold stock in the Avenue (92 flats) and Aqua 2 projects (13 flats), 4.5 acres of commercial land, and personal properties of Vasudevan and his wife, including 179 acres of land at Kannehalli village in Mudigere.