Bhubaneswar: The Enforcement Directorate (ED) has recovered wildlife remains, including elephant bones and antlers, from the residence of a suspect during searches linked to an alleged Rs 120-crore investment fraud that duped hundreds of investors in Odisha and West Bengal., the agency said on Friday.The ED conducted simultaneous searches at 11 locations in Odisha and West Bengal on Wednesday and Thursday as part of its probe into the alleged trading and investment scam. The money laundering investigation stems from an FIR registered by the economic offences wing (EOW) against suspects Amit Mandal, Sanjay Kumar Samal, Iswar Chandra Bindhani, Srikant Mallick, Parthi Sarthi Mohapatra and others.According to an ED statement issued on Friday, officials recovered wildlife remains from the residence of Bindhani in Mayurbhanj district. “Two jawbones and a bone suspected to be of an elephant, along with six antlers, were found during the searches. The information was immediately shared with forest authorities, who have initiated action under the Wildlife (Protection) Act, 1972,” the agency said.The searches also resulted in the seizure of incriminating documents and digital devices, while bank deposits worth approximately Rs 4.5 crore in 36 accounts and a bank locker were frozen.ED officials said that the accused operated an investment scheme promising monthly returns ranging between 3.5% and 7% through purported share market and trading activities. Investors were issued agreements and post-dated cheques to build confidence. While returns were initially paid, disbursements allegedly stopped after July 2024.“During the operation of the scheme, nearly Rs 120 crore was credited to the accounts of the accused persons and associated entities,” an ED official said.The EOW had arrested the prime accused, Amit Mandal (36), a resident of Bankura in West Bengal, on Jan 2 this year. Mandal allegedly mobilised around Rs 120 crore from nearly 500 investors in Odisha and another 100 in West Bengal between 2020 and 2024.Officials said Mandal and his associates organised investor meetings at hotels in Angul and Bhubaneswar to attract deposits. When the promised returns failed to materialise in 2023, investors were allegedly told that their money would be rolled over into a newly floated company.