New Delhi, Dec. 4 -- The Enforcement Directorate (ED) on Thursday launched search operations at around 20 locations across three cities in Uttar Pradesh in connection with the Maxizone Ponzi scheme case, in which promoters allegedly cheated investors of more than Rs 300 crore by promising exorbitant returns, said the officials.

The raids are being conducted in Ghaziabad, Noida and Meerut in Uttar Pradesh from early Thursday morning based on certain inputs about the suspects and accused persons linked to the case.

Officials said the agency's Ranchi zonal office is leading the searches in coordination with the Uttar Pradesh Police. The raids are aimed at gathering digital evidence, financial records and possible links to money laundering ...