The Enforcement Directorate (ED) on Monday raided eight locations in Kolkata as part of a money laundering investigation into suspected financial fraud involving the collection of crores of rupees from the public with promises of high returns.
The searches covered several premises, including locations in Tollygunge and along Sarat Bose Road in south Kolkata, a senior ED official said.
According to the agency, the funds were allegedly channelled into real estate development and other business ventures.
Officials are examining bank account details, financial records and transaction documents to trace the movement of funds and establish the possible involvement of individuals and business entities in the alleged irregularities.
The searches were conducted based on leads gathered during earlier operations, the official said.
The latest raids follow similar searches at 17 locations in Kolkata and other parts of the country last month. The ED is investigating the suspected financial fraud, tracing the money trail and identifying those who may have benefited from the transactions.
(With inputs from PTI)