New Delhi, Aug. 19 -- The Enforcement Directorate (ED) has attached properties worth Rs 71.60 crore of the Gurugram-based 32nd Avenue Group in a Rs 500 crore ponzi scheme defrauding investors.

ED initiated an investigation based on multiple First Information Reports (FIRs) registered by Delhi Police and Gurugram Police against the group, its promoter-directors Anubhav Sharma, Dhruv Sharma and others, for offences including cheating, criminal breach of trust, forgery and conspiracy.

ED's headquarters office attached the assets under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.

ED said its investigation has revealed an "organised and systematic modus operandi" in which investors were induced to purchase commerci...