Bhubaneswar: The Enforcement Directorate (ED) on Wednesday carried out searches at multiple locations in Odisha and West Bengal in connection with an alleged financial fraud involving more than Rs 70 crore linked to a money circulation company.The raids were conducted at premises associated with key functionaries of the company, including the residence and properties linked to the company’s Odisha head in Bisoi area under Kaptipada police station limits in Mayurbhanj district.“The searches are part of an ongoing money laundering investigation stemming from allegations that the company collected large sums from investors by promising high returns through various deposit schemes. We are examining financial transactions, fund trails and the alleged diversion of investors’ money,” an ED officer said.ED officials are also scrutinising documents, digital devices and bank records seized during the searches to identify the beneficiaries of the alleged fraud and ascertain the extent of the money trail.