Enforcement Directorate raids multiple locations in West Bengal over 290 crore bank fraud

The Enforcement Directorate (ED) conducted early morning raids across several locations in West Bengal, including Lake Town, Uttarpara, Howrah, and Durgapur, as part of an investigation into a 290 crore rupee bank loan fraud.

The investigation centers on allegations that the Kohinoor Group obtained massive loans under the pretext of establishing a 66 MW power plant in Jharkhand, but diverted the funds for other purposes instead of the intended project. Investigators are looking into potential money laundering and the possibility that the scheme was used to legitimize black money.

Among those targeted in the raids are chartered accountants Ashok Sarathi in Lake Town and Sudipta Ghosh in Uttarpara. While officials are scrutinizing financial documents and conducting interrogations, Ghosh has stated that he is cooperating with the investigation and maintains he has no connection to the alleged corruption.