ED raids eight locations in Kolkata in money laundering case

The Enforcement Directorate raided eight locations here on Monday morning as part of its probe into a money laundering case, a senior official said.

ED searches eight locations across Kolkata

The searches were carried out on multiple premises, including one in Tollygunge and a few along Sarat Bose Road in South Kolkata, as the federal agency intensified its probe into suspected financial fraud and collection of crores from the public on the promise of high returns, the official said.

According to ED sources, the money was allegedly routed to real estate development and other business ventures.

Officials examine bank records and financial transactions

"Our officials are verifying the financial records managed through the bank account details, and documents related to transactions to trace the movement of funds and determine the possible role of individuals and business entities in the alleged irregularities," the official told PTI.

The ED conducted the searches based on leads gathered during earlier operations, he said.

Raids follow searches at 17 locations last month

Monday's search operations followed a series of similar raids conducted by ED sleuths at 17 locations in Kolkata and other parts of the country last month.

They examined the financial trail to determine the extent of the suspected fraud and identify those who may have benefited from the transactions.