ED raids multiple locations in Kolkata over ₹160 Crore fraud scam

The Enforcement Directorate (ED) conducted searches at multiple locations in Kolkata and surrounding areas on Tuesday in connection with a ₹160 crore financial fraud case. The central agency initiated its investigation based on an FIR alleging that over 19,000 people were duped between 2014 and 2020. The perpetrators collected funds through various fraudulent entities by promising lucrative high-interest returns to investors.

Investigation revealed that a racket operated by offering access to various government scheme benefits in exchange for money, luring citizens with promises of greater advantages for higher deposits. The ED has seized several bank account documents and is currently scrutinizing financial transactions linked to the scam to trace the movement of funds.

The name of a key suspect, Abhijit Das, emerged during the investigation for allegedly running fraudulent operations through multiple companies, including 'Biswas Fisheries'. When ED officials raided his residence on Tuesday morning, no family members were present. Law enforcement agencies are continuing their efforts to review bank accounts associated with his firms and locate those involved.