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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 investigation. In a related development, the ED also conducted searches at the residence of Prakash Phopale, chartered accountant of Ashok Kharat, in Pune. Further investigation into the case is underway, officials added. Earlier on April 1, the Enforcement Directorate (ED) carried out coordinated searches at multiple locations across Kolkata in connection with a case involving criminal syndicate activities linked to an alleged criminal, Sona Pappu and his associates. ED's Kolkata unit is conducting raids at eight premises, including residential and commercial properties associated with Sona Pappu alias Biswajit Podder, Babu Sona alias Rahul Das, Sun Group, and Jay Kamdar.ED's action is part of an ongoing probe into financial transactions and suspected proceeds of crime generated through illegal activities. Investigators said Sona Pappu has been named in multiple criminal cases registered under the Indian Penal Code (IPC) and the Arms Act. These cases include serious charges such as murder, attempt to murder, extortion, and the operation of an organised criminal syndicate. (ANI)
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