ED raids multiple locations in Arambagh over share market scam

The Enforcement Directorate (ED) launched a major crackdown in Arambagh on Thursday, raiding multiple locations connected to an alleged share market scam. The central agency began its operation early in the morning, focusing primarily on the residence of Dilip Maiti, a leader associated with LFS Broking, a local share marketing firm.

Sources suggest that Dilip Maiti has been under the scanner for leading a dubious financial scheme that lured in hundreds of investors with the promise of high returns. However, many never saw their money again. In the aftermath, several depositors reportedly took the extreme step of suicide due to financial ruin. One particularly disturbing case involved a man who mysteriously fell from the fifth floor of the LFS office in Arambagh, further intensifying suspicions.

According to officials, Dilip Maiti holds the trading license for LFS, and is currently being interrogated by ED officials at his home. But the operation wasn't limited to Maiti alone.

In simultaneous raids, the ED also targeted the homes of Sourav Adhikari, Sahil Sheikh, and Alok Roy—all said to be close associates of Ziajur Rahman, the owner of Arambagh Resort and another major suspect in the case. Ziajur Rahman is currently lodged in jail for related offences and allegedly operated an anonymous international share trading network with links to Bangladesh and Saudi Arabia.

A significant part of Thursday's operation included a raid at Arambagh Resort, located near the Mayapur No. 2 Gram Panchayat office, which is believed to have functioned as a front for illicit share market activities. Officials say the ED is gathering crucial documents and digital evidence during the raids.