Visakhapatnam: The Enforcement Directorate (ED) on Wednesday conducted searches at the premises linked to former YSRCP MLA Malla Vijay Prasad in connection with an alleged multi-state chit fund scam. According to reports, the raids were carried out as part of an ongoing money-laundering investigation into the suspected chit-fund fraud. ED officials searched five locations linked to Malla Vijay Prasad in Hyderabad and Visakhapatnam. Bihar Police have conducted raids in the Welfare Group of Companies and are investigating alleged irregularities involving more than Rs 3,000 crore. Malla Vijay Prasad is currently the YSRCP coordinator for the Visakhapatnam West Assembly constituency.