Kolkata, Nov. 4 -- The Enforcement Directorate (ED) on Wednesday launched search operations at four locations in and around Kolkata, in connection with a multi-crore hawala network linked to a transnational cyber fraud racket.
The Central agency, accompanied by Central paramilitary forces, began its synchronised raids around 7 am. The primary focus of the operation was the residence and office of Shyamal Byapari, a local businessman who operates a large-scale rice trading enterprise in the Kamalgazi area on the southern fringes of the city. Simultaneous search operations were also conducted at a linked location in Lake Town.
According to sources, the raids stem from an initial cyber fraud case registered in Guwahati, Assam.
Investigators allege that proceeds from a massive online fraud ring operating out of Guwahati were illegally channelled into Bengal.
The funds were reportedly routed through Byapari's legitimate rice trading accounts to disguise their illicit origin before being siphoned off through clandestine hawala channels.
Published by HT Digital Content Services with permission from Millennium Post.