CBI has conducted searches at 82 locations including Jharkhand, Bihar, Odisha, West Bengal and Andhra Pradesh in ongoing investigation of alleged chit fund case.<br/> <br/>It conducted searches at the residence and office premises of then Managing Director and Director of 33 companies including an ex-MLA of Vishakhapatanam.<br/> <br/>CBI had earlier registered two cases against group of companies and then Managing Directors and others, on the directions of Jharkhand High Court. It was alleged that the companies were involved in receiving huge public deposits illegally and fraudulently by way of cheating common people with false promises. <br/><br/>An amount of Rs 44.90 lakh has been recovered from the residence of ex- MLA, Vishakhapatnam and Rs 16.80 lakh from the residence of then Director of a private company. <br/><br/>Various incriminating documents and articles related to the cases have been recovered. Further investigation is continuing.