Enforcement Directorate Freezes Trinamool Congress Accounts Containing ₹440 Crore Amid Money Laundering Investigation

The Enforcement Directorate (ED) has taken significant action against the Trinamool Congress (TMC) by freezing three bank accounts that collectively hold ₹440 crore. This move is part of an ongoing investigation under the Prevention of Money Laundering Act and has sparked claims of political bias from the party.

The ED’s decision came after they conducted extensive searches at five locations in and around Kolkata associated with the Carewell Group, an aviation firm under scrutiny. These searches were initiated following a report filed by the Bidhannagar Cyber Police, which raised concerns about alleged financial misconduct connected to the TMC. The investigation focuses on accusations such as unlawful fund collection and the suspicious routing of money through the party’s bank accounts.

According to the ED, over ₹160 crore was purportedly transferred from TMC’s accounts to Carewell Aviation India Private Limited and another linked entity between April 2023 and June 2026. The agency has further alleged that Carewell Aviation subsequently transferred around ₹83 crore to a third related company, which was utilized to acquire an Embraer Legacy 600 aircraft and an Agusta 109 Grand New helicopter, with total expenditures on these acquisitions estimated at ₹112 crore.

In addition, the investigation highlights an unsecured loan of $1.7 million (approximately ₹14.04 crore) that was reportedly provided by a company based in the Cayman Islands in 2023 to facilitate the purchase of the aircraft. These developments have raised eyebrows and intensified scrutiny over the financial dealings of the TMC, a party that has been at the forefront of West Bengal politics for over a decade.

The TMC, led by Chief Minister Mamata Banerjee, has vehemently denounced the ED’s actions, labeling them as a politically motivated maneuver aimed at undermining the party’s credibility. As the investigation unfolds, it remains to be seen how these allegations will impact the TMC’s standing in West Bengal, especially with the upcoming elections on the horizon.

Source: scroll.in