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

Kolkata, Jan 16 (PTI) The Enforcement Directorate (ED) on Thursday conducted simultaneous raids at three different places in Kolkata and Howrah in connection with a Rs 6,000-crore bank fraud case, an officer said.

The searches were conducted at the residence and offices of a businessman, he said.

“While investigating the matter we came across several shell companies and agencies which were allegedly involved in the crime. This person is the director of one such agency and we are conducting searches to find the links to the fraud and how money was siphoned off,” the officer said.

In December, the ED arrested Concast Steel and Power’s promoter Sanjay Sureka in the case. The agency had seized jewellery worth Rs 4.5 crore and several foreign luxury cars from his possession.

The case was registered in 2022 after the arrested industrialist had allegedly duped a nationalised bank in Jharkhand.