New Delhi/IBNS, Nov. 13 -- The Enforcement Directorate (ED) has arrested realty company Jaypee Infratech Ltd.'s Managing Director Manoj Gaur in connection with a probe into an alleged fraud with home buyers, media reports said.

Gaur has been arrested under the provisions of Prevention of Money Laundering Act (PMLA).

According to a report by NDTV, the businessman is linked to the cheating case of Rs. 12,000 crore.

During those searches, cash of around Rs.1.7 crore and extensive documents and records were seized.

The investigations tie into multiple FIRs filed by home-buyers alleging that JIL promised residential units, notably the 'Jaypee Wishtown' project but failed delivery, while funds were allegedly diverted.

JIL's insolvency and ...