Enforcement Directorate’s crackdown on the coal scam took a dramatic turn with raids at the Kolkata flat of a prominent I-PAC director. The pre-dawn operation underscores the agency’s aggressive stance against economic offenders embedded in influential circles.
Detailed briefings indicate ED’s focus on hawala networks and benami properties tied to coal mafia operations. The director’s home yielded crucial documents detailing suspicious transactions worth crores, allegedly linked to kickbacks from coal mine allotments.
I-PAC’s involvement raises eyebrows, given its track record in managing campaigns for major parties. Investigators allege that firm executives acted as conduits, routing laundered funds through service contracts and overseas accounts. This raid disrupts what was seen as an untouchable consultancy empire.
The building was cordoned off, with residents advised to stay indoors. ED’s forensic experts joined the fray, scanning laptops and phones for encrypted data. The director, described as cooperative yet reserved, faces potential summons for deeper interrogation.
Recapping the coal scam’s anatomy: opaque auctions led to undue favors, causing massive public losses. Courts have convicted several, but many big fish remain at large. Today’s action aligns with Supreme Court mandates for thorough probes, signaling no sacred cows.
Economic analysts note persistent vulnerabilities in mineral sectors. Enhanced ED vigilance could deter future scams, restoring investor confidence. Political ripples are inevitable, with accusations of selective targeting flying thick. As evidence mounts, the scam’s full scope—and I-PAC’s role—may soon unravel publicly.