MUMBAI, June 24 -- The Mumbai unit of the Enforcement Directorate (ED) has conducted searches at several locations in Maharashtra and Gujarat as part of its money-laundering probe into allegations of bogus Ponzi /multi-level marketing schemes and illegal forex trading against business group, VIPS Group of companies, operated a certain Vinod Khute, his family members and associates. The searches were conducted on Friday at various locations in Kolhapur, Ahmednagar, Pune and Surat in Gujarat under the provisions of the Prevention of Money Laundering Act. During the course of the search operations, incriminating documents, immovable asset details worth crores of rupees, digital devices and bank funds were seized/frozen. The accused had allegedly collected Rs.100 crore from the public in the name of schemes, but duped them. The ED had initiated its investigation on the basis of a case registered by the Bharati Vidyapeeth police station, Pune, against Khute and others for allegedly cheating several individuals in the name of Ponzi/ multi-level marketing schemes and foreign exchange trading platform by promising exorbitant returns. The ED has accused Khute, who is based in Dubai, of orchestrating multiple illicit multi-level marketing and Ponzi schemes, illegal trading, crypto exchange and wallet services through the VIPS Group of Companies and a few other firms. The search operations were conducted on the associates of Khute, who were allegedly involved in enticing people into investing in the bogus, illicit schemes and illegal trading activities of Khute, ED officials said. "Funds collected through various bogus or shell entities were layered and ultimately withdrawn through cash and siphoned off to Dubai by conversion to crypto, virtual assets, or through hawala channels," an ED official said. Earlier, ED had conducted several search operations and issued provisional attachment orders in the case, resulting in the attachment/freezing of bank balances and assets of Khute and his relatives/associates in India and Dubai, worth Rs.75.42 crore....