Kolkata, February 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 familiar with the development said that the investigating officials have obtained specific information that a portion of the proceeds from the alleged scam was diverted to neighboring Bangladesh and Dubai through the hawala route.
The probe officials have also obtained preliminary information that the diverted money was invested in local businesses and real estate properties in these overseas locations.
The operation was carried out by a network of intermediaries operating outside the regulated financial system in the country, sources said. They added that, according to initial estimates, the total amount circulated through unofficial channels was over Rs 2,700 crore.
"Besides, some local police officers attached to certain police stations in the coal belt areas of West Bengal, and some officials of the state forest department posted in those areas, were also reportedly involved in this system," an insider aware of the development said.
Last week, the 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, the ED conducted searches at ten premises in Kolkata and Delhi. The evidence seized during the searches has been instrumental in linking the proceeds of crime to the attached properties. So far, the total attachment in the case is Rs 322.71 crore, according to the ED.
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 police officers, 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.