States » EastPosted at: Sep 16 2026 8:52PM


ED raids six Kolkata locations in AMP chit fund case

Kolkata, Sep 16 (UNI) The Enforcement Directorate (ED) conducted simultaneous searches at six locations in Kolkata in connection with the alleged AMP chit fund fraud case on Wednesday.
The latest raids come a day after the ED arrested businessman Amit Gangopadhyay, who is considered close to former Trinamool Congress MLA Debasish Kumar. The investigators are examining suspected money laundering through real estate and construction businesses.
ED officials first reached the residence of a businessman in the Narkeldanga area. According to agency sources, searches were also conducted at premises linked to a director of a construction company and several investors.
Apart from Narkeldanga, the searches covered five other locations, including Netaji Nagar and Rabindra Sarobar.
The raids were launched soon after the agency registered an Enforcement Case Information Report (ECIR) in the case.
According to ED sources, funds allegedly collected through the AMP chit fund were diverted into construction and real estate projects.
The agency suspects that the Narkeldanga-based businessman was used as a conduit to route and launder unaccounted money generated through the chit fund operation.
Real estate developers and other businessmen have come under the agency's scanner as part of the investigation into the alleged misappropriation and laundering of AMP chit fund funds.
Searches were underway at their residences and other premises to trace the flow of money and identify the beneficiaries.
Simultaneous ED searches were also being conducted at 17 locations in Indore since Wednesday morning as part of the same investigation.
Gangopadhyay was arrested in connection with allegations of illegal construction following land encroachment. His company has allegedly constructed housing complexes on encroached land in several parts of south Kolkata. ED sources said Gangopadhyay was arrested after he allegedly failed to cooperate with investigators during questioning.
UNI BGA/SAG NST MCR
Tags: #ED raids six Kolkata locations in AMP chit fund case
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