Kolkata, July 9 -- The Enforcement Directorate (ED) on Thursday launched a massive, synchronised crackdown across multiple districts of Bengal, targeting an alleged multi-crore financial fraud and illegal chit fund network.
Central agency teams, backed by heavily armed personnel of the Central Armed Police Forces (CAPF), began simultaneous search operations early in the morning at about 10 locations across the state. According to sources, the primary focus of the operation is an intricate fraudulent network accused of running illegal chit fund schemes, fake cryptocurrency investments and mock stock market training ventures. The agency alleges that the scale of the money laundering and financial fraud stretches from Kolkata to Dubai, involving the misappropriation of investor funds worth over Rs 100 crore.
Apart from the raid conducted at an office in Fairly Place, searches were conducted at the residence of an individual identified as Sourav Chatterjee in Bantra of Howrah. In Nadia, the central agency raided the residence of a businessman identified as Subhrakanti Nag at Kalinarayanpur area in Ranaghat.
ED had initiated its probe following a complaint lodged by a woman at the Hare Street Police Station in May last year. It was alleged that a private company had collected at least Rs 20 crore from investors with a promise of lucrative returns in 25 months. However, during the investigation, ED found the misappropriated amount was around Rs 100 crore.
Published by HT Digital Content Services with permission from Millennium Post.