Ranchi, Dec. 4 -- Teams from the Ranchi zonal office of the Enforcement Directorate (ED) on Thursday carried out searches at 20 locations across the country as part of a money laundering probe linked to the unregistered chit fund company 'Maxizone', officials familiar with the development said.

"Ranchi zonal office is carrying out searches at around 20 premises across Ghaziabad, Noida, and Meerut. These searches relate to the Maxizone Ponzi scheme operated by Chandra Bhushan Singh and Priyanka Singh, who duped investors of over Rs.300 crore by promising unrealistic returns and absconding with the funds. Both promoters are currently in judicial custody in connection with the predicate offence," an ED official said.

A police official awar...