ED provisionally attaches over Rs 10 crore of Trinamool Congress funds in money laundering probe
Mar 11, 2024
New Delhi [India], March 11 : The Directorate of Enforcement (ED), Delhi Zonal Office has provisionally attached an amount of Rs 10.29 Crore belonging to the All India Trinamool Congress (AITC) party.
According to a press release, the funds were in the form of a Demand Draft tendered by AITC during the investigation into allegations of money laundering by the Alchemist Group and others.
The Alchemist Group, notably headed by Kanwar Deep Singh, an Ex-Member of Rajya Sabha from AITC, is allegedly at the centre of the investigation.
The ED's investigation was triggered by FIRs registered by multiple agencies including the Central Bureau of Investigation (CBI) in Lucknow, Kolkata Police, and the Uttar Pradesh Police.
These FIRs implicated various individuals and group companies associated with the Alchemist Group under different sections of the Indian Penal Code (IPC), 1860.
According to ED findings, M/s Alchemist Group allegedly amassed funds exceeding Rs 1800 Crore from investors and victims through its companies, primarily M/s Alchemist Holdings Limited and M/s Alchemist Township India Limited.
The funds were obtained under false pretenses of providing high returns and offering properties such as flats, villas, and plots, or high-interest rates on investments.
However, the investors were never refunded their money, and the funds were illicitly diverted to various group companies of the Alchemist Group.
Further investigation by the ED revealed that a portion of the fraudulently obtained funds was utilized by the Alchemist Group to make payments to aviation companies on behalf of the All India Trinamool Congress (AITC) party.
Specifically, an amount of Rs 10.29 Crore was paid by Alchemist Airways Pvt Ltd to various aviation and helicopter companies for services availed by the AITC during the campaigning for the 2014 Lok Sabha Elections.
These services were reportedly utilized by star campaigners of AITC, including Ms. Mamta Banerjee, the Hon'ble Chief Minister of West Bengal, Mukul Roy, the Ex-Union Railway Minister, and MPs such as Munmun Sen and Nusrat Jahan.
While the provisional attachment marks a significant step in the investigation, the ED has reiterated that further inquiries are underway.
