The Enforcement Directorate (ED) has initiated searches at five locations in West Bengal as part of an ongoing money laundering investigation associated with the Trinamool Congress (TMC). The central agency’s actions took place on Tuesday in response to allegations of funds being diverted and layered improperly.

According to the ED, nearly Rs 160 crore was purportedly transferred from TMC accounts to a private aviation firm over a span of three years. The locations being searched are associated with the Carewell group of companies, which is known for its operations within the aviation sector.

The agency claims the investigation revolves around alleged dishonest financial dealings, unlawful monetary collection, and the routing of questionable funds through bank accounts linked to the All India Trinamool Congress (AITC).

Allegations Of Fund Diversion And Layering

The ED has stated that roughly Rs 160 crore was moved from AITC accounts to Ms Carewell Aviation India Pvt Ltd and a related company between April 2023 and June 2026. Investigators allege that during this timeframe, approximately Rs 82.96 crore was subsequently routed to another newly incorporated entity, raising concerns about layered financial transactions.

Evidence gathered during the searches suggests that a significant portion of these funds was diverted to a related entity for the acquisition of an Embraer Legacy 600 business jet and an Agusta 109 SP helicopter. The agency claims that around Rs 112 crore of the funds was allocated to purchase the two aircraft.

Additionally, the probe has indicated that some of the financing for the Agusta helicopter allegedly originated from foreign sources. Nonetheless, investigators assert that the majority of the capital utilised for both aircraft purchases came directly from AITC bank accounts.

Lease Back Arrangement Raises Suspicion

The ED further claims that following the acquisitions, the Embraer Legacy 600 and the Agusta helicopter were leased back to the Trinamool Congress. Despite being bought with funds that reportedly originated from party accounts, the aircraft were subsequently rented out to the TMC. Substantial payments for aircraft usage were made thereafter.

This arrangement has raised concerns within the investigating agency, which suggests it may have been designed to mask the real intent and purpose of these transactions. Investigators assert that the flow of funds, establishment of related entities, and leasing agreements potentially indicate an effort to conceal the true movement and end-use of the funds.

As the investigation progresses, the ED has announced that it will continue to delve deeper to establish a comprehensive money trail and clarify the roles of all individuals and entities implicated in this case. The Trinamool Congress has not yet issued any formal response to the allegations put forth by the ED.

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