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Kolkata industrialist arrested in Jharkhand's Rs 6210 crore bank fraud case, ED seizes jewellery and cars
Raid: The ED raided 13 places in West Bengal on Tuesday and Wednesday, including his residence in Ballygunge, South Kolkata, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. According to the statement, the group had taken loans from 11 government banks and 5 financial institutions.
On Wednesday, the Enforcement Directorate (ED) arrested industrialist and Concast Steel and Power Limited owner Sanjay Sureka in a bank fraud case of more than Rs 6 thousand crore in Jharkhand. During the search operation, The ED also seized jewelry worth Rs 4.5 crore and 8 foreign-made luxury cars.
In a statement issued by the agency, it was told that the ED on Tuesday and Wednesday raided 13 places in West Bengal, including his residence in Ballygunge, South Kolkata, under the provisions of the Prevention of Money Laundering Act (PMLA), 2002. According to the statement, the group had taken loans from 11 government banks and 5 financial institutions. ED investigation revealed that the Concast Group had opened fake entities in the name of its employees, relatives, and associates to transfer loan money. The diverted amount was used for personal expenses and the purchase of various movable and immovable properties. Currently, ED is trying to find out how many people are involved in questioning Sureka in connection with the bank fraud.
The agency said that there is evidence that a large amount of money has been transferred through fake companies. This action of ED is based on the complaint of loan fraud by the bank consortium in 2022.
