ED raids Kolkata, Howrah in Rs 6,000-cr fraud

Kolkata

On Thursday, the Enforcement Directorate (ED) carried out coordinated raids at three locations in Kolkata and Howrah related to a Rs 6,000-crore bank fraud investigation, an officer confirmed. The raids targeted the residence and offices of a businessman linked to the case.

During the investigation, authorities discovered multiple shell companies and agencies involved in the fraud. The businessman, identified as the director of one of these agencies, is under scrutiny. The ED is conducting these searches to uncover the connections to the fraud and trace how the money was diverted, according to the officer.

This follows the December arrest of Sanjay Sureka, the promoter of Concast Steel and Power, who was taken into custody by the ED in connection with the case. The agency had previously seized Rs 4.5 crore worth of jewelry and several luxury cars from Sureka.

The case dates back to 2022, when the industrialist allegedly defrauded a nationalized bank in Jharkhand. Investigations continue to reveal the full extent of the fraud.