Kolkata, Feb 16 The Enforcement Directorate (ED), which is investigating the multi-crore coal smuggling case in West Bengal, is also currently examining the hawala aspect related to the diversion of illicit proceeds overseas.
Sources aware of the development said the investigating officials have secured some specific information that part of the proceeds of the crime in the alleged scam were diverted to neighbouring Bangladesh and Dubai through the hawala route.
The probe officials have also secured some preliminary information that the diverted money was invested in local businesses and real estate properties in these overseas lands.
The operation was carried out by a network of intermediaries operating outside the regulated financial system in the country, sources said. They added that, as per initial estimates, the total money circulated through unofficial channels was over Rs 2,700 crore.
“Besides, some local cops attached some police stations in the coal belts of West Bengal, some officials of the state forest department posted in those belts were also reported to be involved in this system,” an insider aware of the development said.
Last week, ED had informed that it had provisionally attached assets worth Rs 100.44 crore under the Prevention of Money Laundering Act (PMLA), 2002, in connection with large-scale illegal coal mining and pilferage in the leasehold areas of Eastern Coalfields Limited.
Earlier, on February 8, ED conducted searches at ten premises in Kolkata and Delhi. Evidence seized during searches has been instrumental in linking proceeds of crime to the attached properties. Total attachment in the case so far, ED as of now is Rs 322.71 crore.
Recently, there were controversies when the ED officials were conducting simultaneous raids and search operations in connection with the coal smuggling case at the Indian Political Action office at Salt Lake in the northern outskirts of Kolkata and the residence of I-PAC co-founder Pratik Jain at Loudon Street in central Kolkata.
While the simultaneous raid and search operations were going on, Chief Minister Mamata Banerjee, accompanied by senior bureaucrats and cops, stormed into both places one after another, and then left the places, taking away some files and electronic documents.
The matter is being heard at the Supreme Court.
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