Simultaneous Raids: The Enforcement Directorate (ED) raided eight locations in Kolkata, including Tollygunge and Sarat Bose Road, targeting an ongoing money laundering probe.
Investment Fraud: The investigation centers on alleged financial fraud where public funds collected under high-return promises were diverted into real estate and business ventures.
Follow-Up Action: These operations follow previous searches across 17 locations as officials analyze bank records and financial documents to trace the money trail.
ED Raids Eight Locations In Kolkata In Money Laundering Case
Federal agency intensifies crackdown on suspected financial fraud and high-return investment scams, targeting premises in South Kolkata
Summary
The Enforcement Directorate raided eight locations here on Monday morning as part of its probe into a money laundering case, a senior official said.
The searches were carried out on multiple premises, including one in Tollygunge and a few along Sarat Bose Road in South Kolkata, as the federal agency intensified its probe into suspected financial fraud and collection of crores from the public on the promise of high returns, the official said.
According to ED sources, the money was allegedly routed to real estate development and other business ventures.
"Our officials are verifying the financial records managed through the bank account details, and documents related to transactions to trace the movement of funds and determine the possible role of individuals and business entities in the alleged irregularities," the official told PTI.
The ED conducted the searches based on leads gathered during earlier operations, he said.
Monday's search operations followed a series of similar raids conducted by ED sleuths at 17 locations in Kolkata and other parts of the country last month.
They examined the financial trail to determine the extent of the suspected fraud and identify those who may have benefited from the transactions.
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