1 week ago
Kolkata Police Bust CA Siblings’ Alleged Rs 555-Crore Laundering Racket
Authorities in Kolkata are investigating two Chartered Accountants who are siblings.
Their office was searched by Income Tax officials.
Investigators found certificates that were allegedly forged.
These certificates were reportedly used to send money to other countries.
Officials say the siblings did not check the financial records before issuing them.
They estimate that more than Rs 555 crore was transferred abroad between 2021 and 2026.
Police believe other people may have helped with the scheme.
The investigation is still continuing.
Income Tax officials raided a Chartered Accountant firm in Kolkata’s Kankurgachi area.
The firm’s brother-sister CA partners allegedly issued certificates without verifying financial records.
Officials said forged certificates enabled Rs 555,44,52,951 to be transferred abroad between 2021 and 2026.
The certificates reportedly involved transactions by non-existent shell entities.
Phulbagan Police are investigating, while authorities search for associates linked to the alleged syndicate.
- Who
- Two sibling Chartered Accountants, Income Tax officials, and Kolkata Police are involved in the case.
- What
- Authorities are investigating the alleged issuance of forged certificates used to launder Rs 555,44,52,951 abroad.
- Where
- The CA firm was located in Kadapara, in the Kankurgachi area of Phulbagan, Kolkata.
- When
- The alleged transfers took place between 2021 and 2026; the raid occurred recently, according to the report.
- Why
- Income Tax officials allege that certificates were issued without verifying accounts and other documents, enabling overseas fund transfers.
Key facts
- Alleged amount transferred abroad
- Rs 555,44,52,951
- Alleged period
- 2021 to 2026
- Location searched
- A CA firm in Kadapara, Kankurgachi, Phulbagan, Kolkata
- Documents recovered
- Certificates allegedly used to facilitate overseas fund transfers
- Alleged mechanism
- Certificates based on transactions involving non-existent shell entities
- Investigating police unit
- Phulbagan Police, with the cases taken over by the Detective Department
- Related allegation
- A separate case involving approximately Rs 800 crore was recently reported at Karaya Police Station
Quotes
Kunal Agarwal
Additional Commissioner of Police (crime), Kolkata Police
“The investigation is going on.”
thestatesman.com
Sources
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