The Enforcement Directorate (ED) launched extensive search operations on Friday across 12 locations in West Bengal, Telangana, and Gujarat in connection with a ₹2,700 crore bank fraud case.
Officials confirmed that the raids are being conducted by the Kolkata Zonal Office of the ED, targeting suspected individuals and entities linked to the alleged financial scam. The operation includes 10 sites in Kolkata, one in Hyderabad, and one in Ahmedabad.
The searches are being carried out in coordination with state police forces to ensure smooth execution. The case reportedly involves a major jewellery firm suspected of diverting large sums of bank funds through fraudulent transactions and shell companies.
Investigators are examining financial documents, digital records, and transaction histories to trace the flow of money and identify key beneficiaries of the scam. The ED suspects large-scale money laundering and misuse of bank loans across multiple accounts and associated businesses.
The ongoing investigation follows inputs shared by other central agencies regarding irregularities in loans obtained from several banks, leading to significant financial losses.

ED conducts raids across three states over ₹2,700 crore bank fraud linked to jewel firm

ED Raids in ₹2,700 Crore Bank Fraud Case

ED conducts raids across three states over ₹2,700 crore bank fraud linked to jewel firm

October 14, 2025 | 17:18 IST