Kolkata. In a major development in a money laundering case, the Enforcement Directorate (ED) conducted search operations on Wednesday at approximately 17 locations linked to Amrit Group companies and their promoters in Kolkata and Indore, Madhya Pradesh. The action was taken in connection with an alleged investment-related fraud.
According to officials, the ED searched various premises in both cities under the Prevention of Money Laundering Act (PMLA). The investigation stems from allegations that numerous investors were allegedly defrauded.
Funds Collected with Promises of High Returns
According to the investigating agency, Amrit Group companies and their directors are accused of collecting funds from the public through various deposit schemes by promising high returns. It is alleged that the promised returns were subsequently not paid to investors.
The ED's action is part of an investigation into the alleged financial irregularities and the related money laundering aspects of the case. Officials have not yet disclosed detailed information about the documents or other materials recovered during the searches.
Meanwhile, no immediate response was available from Amrit Group or its promoters regarding the ED's action.
