ED Intensifies Probe with Raids in Massive Bank Fraud Case
The Enforcement Directorate conducted searches at 12 locations across West Bengal, Telangana, and Gujarat over a bank fraud of Rs 2,700 crore. Focused on money laundering and financial irregularities linked to a jewellery firm, the raids aim to track fund diversion and beneficiaries involved.
- Country:
- India
In a significant crackdown, the Enforcement Directorate (ED) initiated searches on Friday at 12 locations across West Bengal, Telangana, and Gujarat amid a probe into a massive bank fraud totaling Rs 2,700 crore, officials disclosed.
The ED's Kolkata zonal office spearheaded these operations, executing searches at 10 sites in Kolkata, one in Hyderabad, Telangana, and another in Ahmedabad, Gujarat, based on strategic intelligence.
Further investigations target a jewellery firm with suspected links to money laundering and financial malfeasance, as the ED examines financial transactions for evidence of fund diversion and identifies the scam's beneficiaries.
(With inputs from agencies.)
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