The Enforcement Directorate is conducting searches in a case related to a 12,000 crore rupees fraud involving homebuyers and investors by Jaypee Infratech, Jaypee Associates Limited, and others. The searches are being carried out at 15 premises linked to Jaypee Associates and its entities in Delhi-NCR and Mumbai. The case pertains to money laundering by real estate firms through the siphoning and diversion of funds.