The Enforcement Directorate (ED) on Thursday registered a money laundering case against scam-hit Saradha group of Kolkata to probe allegations of financial irregularities by hapless depositors into the firm.
The ED has registered a regular case under the provisions of the Prevention of Money laundering Act (PMlA) at its Guwahati office. The Assam Police had earlier registered an FIR against the group after allegations were made by investors that they were duped of their hard-earned money. The ED has re-registered the case with charges of money laundering.
The dubious group is under the scanner of a host of agencies like the Stock and Exchange Board of India (SEBI), Income Tax department and investigation units under the Ministry of Corporate Affairs.
"The ED is looking for proceeds of crime and the illegal funds which could have been laundered by the agents and promoters. The agency will probe the case in close coordination with other investigative agencies and police," according to agency sources.
The ED will also go through the FIRs registered by West Bengal Police in connection with the alleged fraud by Saradha group.
As part of the preliminary probe, the ED will also go through the business and personal transactions of the Saradha group chairman Sudipto Sen and his close associates.
The group's various investment schemes will also be studied in order to unravel the entire modus operandi of the firm. This group has hit the national headlines for allegedly defrauding thousands of depositors in a number of States.