States » EastPosted at: Oct 12 2026 9:22PM


ED raids eight Kolkata locations in financial fraud case

Kolkata, Oct 12 (UNI) The Enforcement Directorate (ED) on Monday raided eight locations across Kolkata in connection with an alleged financial fraud in which members of the public were reportedly lured with promises of high returns.
The areas raided included Tollygunge and Sarat Bose Road.
In September, the ED conducted extensive searches at 17 locations in Kolkata in connection with the financial fraud case. Sources indicated that the central agency launched the second operation based on leads obtained during the previous searches.
Acting on these leads, investigators also searched the residences of two executives associated with the firms under investigation. Bank accounts and corporate documents belonging to the businessmen were scrutinised.
It has been alleged that crores of rupees belonging to the public were siphoned off through illegal entities and subsequently invested in real estate development firms and other businesses.
According to police sources, there is a strong possibility of the alleged masterminds behind the financial scam hiding in Kolkata. A search operation has been launched to establish the full extent of the suspected fraud. However, the ED has not publicly named any specific individual or organisation against whom the allegations have been levelled.
The ED has reported allegations of major financial irregularities involving foreign currency exchange and the laundering of crores of rupees.
The investigation suggests that the alleged racket operates nationwide, prompting investigators to coordinate searches across various locations.
The ED has already searched 17 locations across the country, including Delhi, Kolkata and Bengaluru. UNI BGA NST CDS
Tags: #ED raids eight Kolkata locations in financial fraud case
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