The enforcement directorate’s Bhubaneswar zonal office, conducted search operations under Section 17 of the Prevention of Money Laundering Act (PMLA), 2002, at five residential/business premises in relation to the multi-crore chit fund scam. The five entities are linked to the Wellfare Buildings and Estates Pvt Ltd (WBEPL) and its directors namely Malla Vijaya Prasad, a former Congress MLA, Varaharamakrishnasatya Srinivasarao Alla and others located in Visakhapatnam and Hyderabad. During the search operations, cash of `1.01 crore along with details of various movable and immovable properties, incriminating materials and documents related to WBEPL, its directors and related entities were recovered or seized. Freezing orders were issued for 182 bank accounts along with six numbers of high-end luxury vehicles pertaining to WBEPL and its directors. The company had closed its operations from the branch offices located across multiple states and thereby cheated the investors, officials said.