Among the places searched was a businessman’s house in Narkeldanga
Kolkata: The Enforcement Directorate on Wednesday conducted simultaneous searches at six locations in Kolkata and surroundings, including Narkeldanga, Netajinagar and near Rabindra Sarobar, in connection to a Ponzi fraud and money laundering through construction businesses.
An investigation into a large amount of money, allegedly mopped up through Ponzi schemes, threw up Molla’s involvement, according to an ED officer. The proceeds were subsequently channelled into real estate and construction businesses to launder the money, said the office. At Narkeldanga, a search was carried out at the residence of businessman Abdur Jabbar Molla. The central investigating agency also raided the Netaji Nagar residence of a close associate of the businessman and a few other locations in the Rabindra Sarobar area. Among those under radar are a construction company director and investors.
The ED officer said the searches were part of the investigation into reported misappropriation of funds, allegedly belonging to APM, a Ponzi company. You Can Also Check: Gold Rate in Kolkata | Silver Rate in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata | Kolkata AQI | Weather in Kolkata | Petrol Price in Kolkata | Diesel Price in Kolkata | CNG Price in Kolkata | LPG Price in Kolkata Stay updated with the latest Kolkata news. The agency registered an Enforcement Case Information Report before launching the searches. Searches were also reportedly conducted at several locations in Indore in connection to this case. Download the TOI App.