Kolkata: The Enforcement Directorate on Wednesday conducted simultaneous searches at six locations in Kolkata and surroundings, including Narkeldanga, Netajinagar and near Rabindra Sarobar, in connection to a Ponzi fraud and money laundering through construction businesses.The ED officer said the searches were part of the investigation into reported misappropriation of funds, allegedly belonging to APM, a Ponzi company. The agency registered an Enforcement Case Information Report before launching the searches.At Narkeldanga, a search was carried out at the residence of businessman Abdur Jabbar Molla. According to an ED officer, an investigation into a large amount of money, allegedly mopped up through Ponzi schemes, threw up Molla’s involvement. The proceeds were subsequently channelled into real estate and construction businesses to launder the money, said the office. The central investigating agency also raided the Netaji Nagar residence of a close associate of the businessman and a few other locations in the Rabindra Sarobar area.Among those under radar are a construction company director and investors.Searches were also reportedly conducted at several locations in Indore in connection to this case.
