The Enforcement Directorate (ED) conducted searches at eight locations across Kolkata on Monday as part of a money laundering probe. The raids were carried out in areas such as Tollygunge and along Sarat Bose Road.
The searches were conducted in connection with allegations of a suspected financial fraud involving promises of high returns on investments.
Funds were allegedly collected through a chit fund scheme and diverted into real estate firms and other business entities, said officials.
Enforcement Directorate Searches 8 Locations In Kolkata In Laundering Case
Reports suggest that the raids relate to a company named ‘Amrit Project Limited’. During the September searches, substantial sums of money were recovered, and several assets were seized. sources indicate that the ED had previously searched 17 locations in connection with this case last month While it remains unclear which individuals have been named in the complaint. The ED has seized immovable assets worth Rs 75 crore and another crore in cash, along with USD 4,800 in the investigation so far. Documents related to benami investments worth Rs 20 crore had also been seized earlier.
