I-T raid conducted in Kolkata, crores seized and hawala racket unearthed

KOLKATA: Income tax department today conducted raids at several premises in Kolkata and Siliguri in North Bengal acting on a specific tip off received from several agencies. Till the last report came in, the IT officials have seized cash in tune of several crores stocked in the office and business premises run by accused companies and agencies.

Sources further added that the cash stored in the semi business and office premises were used to be sent to Middle East countries through a huge Hawala network. “The racket used to be operated from Kolkata. We are yet to ascertain the motive of the money laundering. And we are investigating into the specific destination of the money laundered in the Middle East countries. However, we have got information that the transactions were made to offshore accounts.”

The searches are being conducted at the office premises located on Sarat Bose road in south Kolkata in presence of the officials of Special task Force (STF) of Kolkata police while other teams have raided at shops in Subhas market area in Siliguri, said a senior police official. The raids started early morning today.

Some clandestine business ventures were going on to store the cash and make the illegal transactions. The front businesses include some retail shops and lottery business too, added the source.