New Delhi [India], October 4 (ANI): The Enforcement Directorate (ED) has initiated a comprehensive series of raids across various cities, including Kolkata, Punjab, Delhi, and Mumbai, linked to a high-profile chit fund case. Sources indicate that the agency is targeting over two dozen locations in these regions.
This extensive crackdown is part of a continued investigation into a notorious chit fund scheme associated with money laundering activities. Raids commenced early Friday and are ongoing at the residences and offices of individuals implicated in this case, which was previously registered against chit fund companies operating in Punjab and West Bengal.
It has been revealed that the chit fund company failed to honor repayments of maturity amounts after soliciting investments and allegedly misappropriated the funds for personal benefits and other entities.
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