Kolkata. In a decisive turn in a high‑profile money‑laundering case, the Enforcement Directorate (ED) executed coordinated search operations on Wednesday at roughly 17 locations associated with Amrit Group firms and their promoters across Kolkata and Indore, Madhya Pradesh. The raids were triggered by allegations of a large‑scale investment scam.
The agency acted under the Prevention of Money Laundering Act (PMLA), targeting offices, residential quarters and other premises linked to the conglomerate. Investigators allege that a substantial number of investors were duped through deceptive schemes.
Promises of Lofty Returns, Reality of Losses
According to the ED, Amrit Group entities and their directors allegedly amassed public funds by marketing a variety of deposit plans that guaranteed unusually high returns. The promised payouts, however, reportedly never materialised, leaving investors financially battered.
The current operation forms part of a broader probe into the suspected financial misconduct and the associated money‑laundering dimensions. While officials have confirmed that searches yielded documents and other evidentiary material, specific details remain undisclosed.
As of now, neither Amrit Group nor its promoters have issued a public statement responding to the enforcement action.
