Agents from the FBI's Buffalo office swooped down Wednesday on a pair of Hamburg properties that last year set a new Erie County record for a residential real-estate sale price.

Earl Gould, FBI spokesman, confirmed that agents began executing a sealed search warrant Wednesday on two Boston State Road residences that were acquired in 2008 by a Cleveland hedge-fund trader, who paid a collective $6.3 million for the properties. The two homes, once owned by the Russo family, former owners of the Sorrento Cheese Co., are owned by Phantom One Holdings LLC, according to Erie County Clerk's Office documents.

"We are executing a search warrant as part of an ongoing investigation," Gould said.

The owner of the property was not identified when the homes were purchased last year, or by the FBI in connection with last week's raid.

"Other than confirming the search warrant, we can't comment," Gould said.

It is believed that the hedge-fund trader lives in one of the homes, with family members residing in the other houses.