ED conducts raids linked to Rs 160-crore TMC fund trail; aircraft deal under lens
The Enforcement Directorate (ED) on Tuesday carried out searches at five locations in West Bengal as part of a money laundering probe into the alleged
The Enforcement Directorate (ED) on Tuesday carried out searches at five locations in West Bengal as part of a money laundering probe into the alleged diversion and layering of funds linked to the Trinamool Congress (TMC), with investigators claiming that nearly Rs 160 crore was transferred from the party's accounts to a private aviation company over three years. According to the central agency, the searches are being conducted at premises belonging to the Carewell group of companies, which operates in the aviation sector. The ED said the investigation pertains to alleged dishonest financial dealings, unlawful collection of money and the routing of suspected funds through certain bank accounts associated with the All India Trinamool Congress (AITC).
Read Full Story The agency has alleged that approximately Rs 160 crore was transferred from AITC accounts to M/s Carewell Aviation India Pvt Ltd and a related entity between April 2023 and June 2026. Investigators further claimed that the company subsequently routed Rs 82.96 crore to another newly incorporated related entity during the same period, raising suspicion of layered financial transactions. According to the ED, evidence gathered during the searches indicates that a substantial portion of the funds was diverted to a related entity for the purchase of an Embraer Legacy 600 business jet and an Agusta 109 SP helicopter. The agency alleged that nearly Rs 112 crore was used to acquire the two aircraft.
The probe has also revealed that a part of the funding used for the purchase of the Agusta helicopter allegedly originated from foreign sources. However, investigators claimed that the bulk of the money used for acquiring both aircraft was sourced directly from AITC bank accounts. The ED further alleged that after the purchases, the Embraer Legacy 600 aircraft and the Agusta helicopter were leased back to the Trinamool Congress itself. According to the agency, despite being acquired using funds allegedly originating from the party's accounts, the aircraft were subsequently rented out to the party, following which substantial payments were made on the pretext of aircraft usage. The agency said the entire arrangement appears to be highly suspicious and may have been structured to conceal the actual beneficial purpose of the transactions.
Investigators believe the flow of funds, the creation of related entities and the leasing arrangement point to a possible attempt to camouflage the movement and end use of money. The searches are continuing, and the ED said further investigation is underway to establish the complete money trail and determine the roles of all individuals and entities involved. The Trinamool Congress has not yet issued a response to the ED's allegations. Ends
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