Probe Agency Conducts Raids At Multiple Locations In Kolkata In Money Laundering Scam

The Enforcement Directorate (ED) conducted raids at multiple locations in Kolkata in connection with a 2021 money laundering case, previously investigated by the Central Bureau of Investigation (CBI), today.

Sources indicated that the raids, which involved money laundering activities, also had some overseas connections.

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At the time of reporting, parallel raids and search operations were underway at eight locations in the city, including New Alipore, South City Residential Complex at Jodhpur Park, Lake Town, and Jadavpur, among others. Central Armed Police Forces (CAPF) personnel were also available with the ED Team.

According to sources, the case involves the illegal collection of public deposits through various multi-level marketing schemes, akin to Ponzi scams such as the Saradha Group and Rose Valley Group cases. These fraudulent deposit collections extended beyond West Bengal to states like Odisha, Punjab, Haryana, and Delhi. The operators had offices and networks of agents spread across major cities in these states, with the financial implications of the case amounting to thousands of crores of rupees.