ED arrests Kolkata businessman in alleged property fraud case

The Enforcement Directorate arrested Amit Ganguly, a Kolkata-based businessman, on allegations of illegally acquiring multiple properties through fraudulent means, officials said. The arrest was made as part of a PMLA investigation into a suspected land grabbing racket operating in the region.

According to investigative findings, Ganguly allegedly obtained control over properties owned by various individuals and corporate entities by using forged board resolutions and fabricated agreements. These documents were reportedly used to facilitate unauthorized transfers and establish false claims of ownership over the disputed assets.

The ED's action represents an escalation in the agency's crackdown on financial crimes linked to illicit real estate transactions. The investigation is ongoing, and authorities are examining additional transactions and documents related to the case to establish the full extent of alleged fraudulent activities.

The arrest comes as regulatory authorities across India intensify efforts to combat organized property fraud and money laundering schemes. Further details regarding the extent of properties involved and other persons of interest in the investigation are expected to emerge as the case progresses.