Enforcement Directorate Raids Eight Locations in Kolkata Over Alleged Chit Fund Fraud; Assets Worth ₹75 Crore Seized

Enforcement Directorate Raids Eight Locations in Kolkata Over Alleged Chit Fund Fraud; Assets Worth ₹75 Crore Seized

KOLKATA, October 12, 2026, [VoM News]: In a major action, as a part of an ongoing money laundering investigation, the Enforcement Directorate (ED) conducted searches at eight locations across Kolkata.

The money laundering investigation into an alleged investment fraud involving promises of unusually high returns is going on, searches are being conducted also, officials told on Monday.

As per officials, the searches were carried out in several areas, including Tollygunge and Sarat Bose Road, in connection with suspected diversion of investors’ funds into real estate companies and other business entities.

The investigation reportedly stems from a
suspected chit fund scheme through which money was collected from investors and subsequently channelled into various commercial ventures.

Reports have linked the investigation to Amrit Project Limited, although the identities of individuals named in the underlying complaint remain unclear.

As per information available with VoM News, nearly, 17 locations were raided and searches were conducted by the agency in September as part of the same investigation.

ED has so far seized immovable assets valued at approximately ₹75 crore, besides ₹1 crore in cash and $4,800 in foreign currency, reliable sources close to investigators said.

Officials also reportedly recovered documents relating to suspected benami investments worth approximately ₹20 crore during earlier searches.

The agency is examining the alleged financial transactions and movement of funds to establish whether proceeds of crime were generated and laundered.

Further details regarding the latest searches are awaited.