New Delhi, April 14 -- The Enforcement Directorate (ED) conducted search operations at seven premises linked to the 32nd Avenue Group across the NCR region and Goa in connection with an alleged fraud case exceeding Rs 500 crore, officials said here on Monday.

According to officials, the case stems from complaints filed by multiple investors who were allegedly duped by the group, following which FIRs were registered. The estimated quantum of fraud is stated to be over Rs 500 crore.

Officials further informed that the promoter-directors of the group are either absconding or currently in judicial custody.

The ED is probing the money trail to ascertain the alleged siphoning of funds and identify assets for attachment as part of its ongoing...