The Enforcement Directorate (ED) on Tuesday conducted search operations at eight locations across West Bengal, including Kolkata in connection with a fraud case involving Rs 160 crore, sources indicated.
According to ED sources, an individual named Biswajit Biswas came under the investigating agency’s scanner for allegedly orchestrating fraud by setting up businesses under various names.
The central agency has alleged that several individuals from outside Bengal were defrauded with promises of high interest rates on deposits. Accordinmg to sources, crores of rupees were misappropritated under the pretext of facilitating access to government scheme benefits. It is believed that a syndicate was operating behind this fraud.
Apart from Kolkata, the ED has also conducted raids in Bongaon, North 24 Parganas. Searches are reportedly underway at four locations there. Operations are currently in progress at Subhashpally in Bongaon; ED officials also visited the residence of an individual named Bishal and subsequently searched the premises of his relative, Rajib Biswas.
The corruption came to light through a case registered based on an FIR. According to sources, the allegations involve defrauding numerous people between 2014 and 2020 by luring them with the promise of substantial interest returns.