Is a Relative of Arrested Trinamool MLA Jiban Krishna Saha Under ED Investigation for Black Money Investments?
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Synopsis
In a gripping development, a relative of Trinamool Congress MLA Jiban Krishna Saha is under the ED's investigation for allegedly diverting school job scam proceeds into mutual fund investments. This case unveils a potential money laundering scheme with significant financial implications.
Key Takeaways
- Investigation into a relative of MLA Jiban Krishna Saha.
- ED probing alleged money laundering through mutual funds.
- Connections to a school job scam highlighted.
- Investments began in 2019.
- Potential recovery of several crores of rupees.
Kolkata, Sep 4 (NationPress) A relative of the detained Trinamool Congress MLA Jiban Krishna Saha, linked to his in-law's family, is currently being scrutinized by the Enforcement Directorate (ED) for acquiring investment assets in his name to manipulate proceeds from a school job scam.
Sources indicate that the funds were reportedly amassed by Saha.
According to ED sources, Saha has surfaced as the principal planner behind the investments in mutual funds. Allegedly, he misappropriated a significant sum from the funds he gathered for facilitating school jobs, which he then tactically invested in a mutual fund through a state-run bank with assistance from his close relative and brother-in-law.
Documents obtained by the ED reveal that this scheme commenced in 2019. During that period, several mutual accounts were established in the name of his brother-in-law, with consistent monthly deposits made.
Investigators suspect that this investment was cleverly devised as a method to launder black money.
During the ongoing investigation, it was uncovered that a candidate had provided Saha with a substantial sum of money in at least three installments, with the promise of employment. This money ultimately reached the brother-in-law through indirect means and was subsequently converted into a mutual fund, sources disclosed.
The ED has initiated efforts to locate additional documents and transaction records related to this case. Thus far, the inquiry has primarily focused on cash dealings, real estate acquisitions, and bank lockers. However, this time, evidence indicating the utilization of regular investment schemes like mutual funds for depositing corruption funds has surfaced.
As per ED sources, a notice for re-interrogation may soon be issued to Saha's brother-in-law. Additionally, all SIP investment accounts from 2019 to the present will be scrutinized. Investigators believe that this process could reveal traces of several crores of rupees.
Last month, the ED arrested Saha in connection with the School Service Commission recruitment scam. Following a six-day custody, the Trinamool MLA is currently incarcerated and will be presented in court again on September 12.
Point of View
It is crucial to highlight the gravity of this situation. The ongoing investigation into Jiban Krishna Saha's relative underscores the need for transparency and accountability in our political system. The ED's rigorous scrutiny is vital in rooting out corruption and restoring public trust.
NationPress
04/09/2025
Frequently Asked Questions
What is the main allegation against Jiban Krishna Saha's relative?
The main allegation is that a relative of Jiban Krishna Saha is under investigation for purchasing investment instruments with proceeds allegedly linked to a school job scam.
When did the alleged investment scheme begin?
The alleged investment scheme reportedly began in 2019.
What role did Saha's brother-in-law play in this case?
Saha's brother-in-law is suspected to have assisted in opening mutual fund accounts and managing the investments of the funds collected from dubious means.
What action has the ED taken so far?
The ED has initiated searches for documents and transactions related to the case and is examining all SIP investment accounts from 2019 to the present.
When is Jiban Krishna Saha scheduled to appear in court again?
Jiban Krishna Saha is scheduled to appear in court again on September 12.
