ED Freezes Trinamool Congress Accounts Holding ₹440 Crore In Money Laundering Probe

The Enforcement Directorate (ED) has frozen three bank accounts of the Trinamool Congress containing deposits worth ₹440.42 crore as part of an ongoing money laundering investigation. The action was taken under the provisions of the Prevention of Money Laundering Act (PMLA), with the agency alleging that the accounts were linked to suspicious financial transactions currently under scrutiny.

According to the ED, the investigation centres on the alleged movement and utilisation of party funds through a network of companies connected to the aviation sector. The agency claims preliminary findings point to large-scale financial transactions that require further examination to determine whether they violated anti-money laundering laws or other financial regulations.

The Trinamool Congress had not issued an official response to the allegations at the time of publication.

As part of the investigation, the ED recently carried out searches at five locations across the Delhi-NCR region. These premises were reportedly linked to the Carewell Group of Companies, which operates in the aviation business and is at the centre of the financial probe.

Investigators allege that between April 2023 and June 2026, approximately ₹160 crore was transferred from Trinamool Congress bank accounts to Carewell Aviation India Private Limited and another company associated with the group. The agency believes these transactions form a key part of the financial trail it is attempting to establish.

According to the ED, the investigation further revealed that nearly ₹82.96 crore was subsequently transferred from Carewell Aviation to the accounts of another newly incorporated related entity. Officials are examining whether these transfers were structured to obscure the origin, movement and ultimate use of the funds.

The agency alleges that a significant portion of the money was used to purchase two high-value aviation assets—an Embraer Legacy 600 business jet and an Agusta 109 SP helicopter. The combined expenditure on these acquisitions is estimated at around ₹112 crore.

Investigators have also raised questions over the funding pattern for the helicopter purchase. While the ED claims that most of the payment originated from Trinamool Congress accounts, it also alleges that foreign funds were used in the transaction. The agency is now examining the source of these overseas funds and whether all applicable legal and regulatory requirements governing foreign funding were complied with.

Another aspect under investigation concerns the operational use of the aircraft after their purchase. According to the ED, despite being acquired through companies linked to the financial trail under scrutiny, the aircraft were allegedly leased back to the Trinamool Congress. The agency claims that substantial payments were subsequently made for their use, creating what investigators describe as a circular financial arrangement.

Officials believe the structure of these transactions appears unusual and are examining whether it was designed to conceal the identities of the actual beneficiaries or the true nature of the financial dealings. However, these observations remain part of an ongoing investigation and have not been tested before a court.

The Enforcement Directorate has stated that it is continuing to investigate the source of the funds, the role of each company involved, the alleged foreign investment and the movement of money between various entities. Officials indicated that additional legal action may follow depending on the findings of the investigation.

The freezing of accounts marks a significant development in the case, as investigators continue to examine whether party funds were diverted, improperly utilised or routed through corporate entities in violation of financial and anti-money laundering laws. The outcome of the investigation is expected to determine whether further criminal proceedings or additional asset attachments will be initiated.