ED launches TMC funds probe, raids multiple locations in Bengal

The Enforcement Directorate (ED) on Tuesday launched a money laundering investigation into financial transactions linked to three bank accounts of the Trinamool Congress (TMC), intensifying scrutiny over funds worth nearly Rs 440 crore that have remained under debit restrictions following directions issued by the West Bengal Police.

As part of the probe, multiple ED teams, backed by heavily armed personnel of the Central Armed Police Forces (CAPF), carried out simultaneous search operations at several locations linked to the investigation.

According to sources, one of the premises searched was the office of an aviation company that allegedly provided chartered flight services to senior Trinamool Congress leaders, including former West Bengal chief minister Mamata Banerjee and the party's national general secretary Abhishek Banerjee, for election campaigns and official travel.

The central agency's action comes weeks after debit restrictions were imposed on the party's three bank accounts, which together hold approximately Rs 440 crore, amid an escalating internal dispute within the Trinamool Congress following its defeat in the April-May assembly elections.

The restrictions stemmed from two separate developments.

The first was a letter written by the party's former treasurer and former West Bengal sports and power minister Aroop Biswas, requesting the bank to freeze the accounts over concerns that the funds could allegedly be misused.

Subsequently, MLAs belonging to the Trinamool Congress' "rebel but majority" faction, led by expelled MLA Ritabrata Banerjee, approached the West Bengal Police with a similar request. The legislators also alleged that the accounts could contain proceeds of corruption and extortion and sought a detailed investigation into the transactions.

Acting on the complaints, the West Bengal Police directed the concerned bank to impose debit restrictions on the three accounts, preventing withdrawals while allowing the investigation to proceed.

The move was challenged before the Calcutta High Court by the "original but minority" faction of the party led by Mamata Banerjee and Abhishek Banerjee, which sought immediate relief from the restrictions. However, the High Court declined to grant interim relief, allowing the debit freeze to remain in force.

Sources said the Enforcement Directorate has now independently initiated a probe after taking cognisance of allegations that the accounts may have been used to channel proceeds of corruption and extortion, bringing the matter within the ambit of the Prevention of Money Laundering Act (PMLA).

The ED is expected to examine financial records, banking transactions and other documentary evidence to determine whether the funds deposited in the accounts are linked to scheduled offences under the anti-money laundering law. The agency is also likely to scrutinise entities and individuals associated with transactions routed through the accounts as the investigation progresses.

The development marks a significant escalation in the legal and political battle surrounding the Trinamool Congress' finances, with parallel investigations now being conducted by the West Bengal Police and the Enforcement Directorate.

With IANS inputs