ED raids 8 Kolkata sites in suspected chit fund laundering
India
The Enforcement Directorate (ED) just raided eight spots across Kolkata, including Tollygunge and Sarat Bose Road, digging into a suspected money laundering scheme.
The case centers on funds allegedly moved from a chit fund into real estate and business ventures.
This follows similar raids at 17 locations last month, all tied to the same investigation.
Amrit Project Limited linked to ₹75cr
At the heart of it is Amrit Project Limited, which the ED suspects of serious financial mischief.
Last month's raids turned up assets worth ₹75 crore, ₹1 crore in cash, $4,800 in foreign currency, and documents showing benami investments of ₹20 crore.
No names have been dropped yet, but these finds show just how big this alleged scam might be as the ED works to unravel the full story.