In a major escalation of the ongoing coal scam investigation, Enforcement Directorate (ED) teams conducted a high-profile raid on the Kolkata residence of a key director from Indian Political Action Committee (I-PAC). The operation, launched early Wednesday morning, marks a significant breakthrough in the agency’s efforts to unravel the intricate web of corruption linked to illegal coal allocations.
Sources close to the investigation revealed that the raids targeted the director’s upscale apartment in one of Kolkata’s posh localities. ED officials, armed with search warrants, spent hours combing through documents, electronic devices, and financial records. The action comes amid allegations that the director was deeply involved in money laundering activities connected to the multi-crore coal scam that has rocked the nation’s energy sector.
The coal scam, which first surfaced years ago, involves irregularities in coal block allocations worth billions. Politicians, businessmen, and bureaucrats have been implicated, but this raid brings the spotlight on political consultancy firms like I-PAC, known for their role in election strategies. Investigators suspect that proceeds from illicit coal deals were funneled through shell companies and consultancy fees to mask the trail.
Eyewitnesses reported heavy security deployment around the building as ED sleuths arrived in multiple vehicles. Neighbors were taken aback by the sudden drama unfolding in their quiet neighborhood. The director, whose identity is yet to be officially disclosed, reportedly cooperated with the authorities, though tension was palpable throughout the operation.
This development underscores the ED’s relentless pursuit of white-collar criminals hiding behind legitimate facades. As digital forensics teams analyze seized gadgets, more revelations are expected. The raid could expose deeper links between political operatives and the scam’s masterminds, potentially leading to high-profile arrests.
Industry watchers say the coal sector remains plagued by graft, with past scandals costing the exchequer dearly. The government has vowed zero tolerance, and this ED strike signals intensified crackdowns ahead of elections. Stakeholders await further updates as the probe intensifies, promising to shake up Kolkata’s power corridors.