The ED’s iron fist descended on Kolkata Thursday, raiding the residence of an I-PAC director suspected of deep ties to the coal scam’s money trail. This precision strike amplifies pressure on enablers who camouflaged illicit gains within political machinery.
Hours-long searches at the director’s high-end apartment uncovered financial ledgers, UPI records, and property deeds hinting at asset concealment. Allegations center on layering scam proceeds via I-PAC’s billing, converting black money into white through ‘strategy fees.’
From election war rooms to scam boardrooms, I-PAC’s dual role is under the microscope. ED posits a nexus where coal barons funded campaigns indirectly, buying influence. Seized materials could validate these claims, exposing a shadowy ecosystem.
Chaos gripped the locality as ED convoys rolled in, prompting speculation among locals. The director emerged briefly for statements, maintaining innocence amid the bustle. No cash hauls were reported, but digital footprints promise richer yields.
The coal scam’s legacy endures: rigged allocations inflated power tariffs, burdening households. Recovery efforts have reclaimed some funds, but accountability lags. This raid invigorates the fight, potentially netting associates in Delhi and beyond.
With elections looming, timing fuels debate on motives. Yet ED’s evidence-driven approach stands firm. Broader implications for consultancy regulations loom large. As probes deepen, Kolkata’s elite brace for fallout from this seismic ED operation.