New Delhi, Aug. 18 -- The Enforcement Directorate (ED) has seized a large amount of incriminating documents and also frozen proceeds of crime consisting of more than Rs 30 crore worth of listed shares and securities, mutual funds, LIC policies, bank balances and nine high-end vehicles during searches carried out continuously for four consecutive days last week in connection to the SAGA group Ponzi scam.

The agency carried out the search operation from August 13 to August 16 at multiple residential and business premises linked to Sameer Agarwal and his associates across Mumbai and Bhopal in the case involving Loni Urban Multi-State Credit and Thrift Co-operative Society (LUCC) and other affiliated co-operative societies.

ED's headquarter...