Pune, Dec. 10 -- The Enforcement Directorate (ED) on Wednesday conducted searches at five places in Maharashtra's Baramati and Pune districts linked to an alleged multi-crore fraud in the dairy sector.

The raids are underway at the premises belonging to Anand Satish Lokhande, Vidyanand Dairy Pvt Ltd and Vidyanand Agro Feed Pvt Ltd and professionals. The places being searched include two in Baramati, two in Pune and one in the Indapur area in Pune.

ED's Mumbai zonal office is conducting the searches under section 17 of the Prevention of Money Laundering Act,2022, following its investigation based on three FIRs registered in the Maharashtra police.

As per the FIRs, the total alleged financial fraud committed is Rs 108.30 crores.

"It is ...