ED Arrests Kolkata Businessman Joy Kamdar in Rs 1,100-Crore Shell Company Scam
The Enforcement Directorate (ED) has arrested Joy S Kamdar, a Kolkata-based businessman and managing director of Sun Enterprise, for his alleged involvement in a Rs 1,100-crore money laundering and land-grabbing scam. Investigators accuse Kamdar of facilitating illegal transactions through a network of shell companies, acting as a key associate of history-sheeter Biswajit Poddar, alias Sona Pappu. Digital evidence and incriminating chats revealed a strong nexus between the two, with funds allegedly diverted from educational societies, including Rs 40 crore from the Calcutta Gujarati Education Society. The probe uncovered over Rs 500 crore in cash deposits within a four-month period. Kamdar, who had previously ignored ED summonses, was taken into custody after raids across six locations in Kolkata. However, he was subsequently admitted to RG Kar Medical College and Hospital due to chest pain, delaying his court production. The ED seeks judicial custody to confront Kamdar with electronic evidence and trace the ultimate beneficiaries. While Kamdar is in custody, Sona Pappu remains absconding, with authorities focusing on his alleged extortion racket and ties to influential political figures.
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ED Arrests Kolkata Businessman Joy Kamdar in Rs 1,100-Crore Shell Company Scam
The Enforcement Directorate (ED) has arrested Joy S Kamdar, a Kolkata-based businessman and managing director of Sun Enterprise, for his alleged involvement in a Rs 1,100-crore money laundering and land-grabbing scam. Investigators accuse Kamdar of facilitating illegal transactions through a network of shell companies, acting as a key associate of history-sheeter Biswajit Poddar, alias Sona Pappu. Digital evidence and incriminating chats revealed a strong nexus between the two, with funds allegedly diverted from educational societies, including Rs 40 crore from the Calcutta Gujarati Education Society. The probe uncovered over Rs 500 crore in cash deposits within a four-month period. Kamdar, who had previously ignored ED summonses, was taken into custody after raids across six locations in Kolkata. However, he was subsequently admitted to RG Kar Medical College and Hospital due to chest pain, delaying his court production. The ED seeks judicial custody to confront Kamdar with electronic evidence and trace the ultimate beneficiaries. While Kamdar is in custody, Sona Pappu remains absconding, with authorities focusing on his alleged extortion racket and ties to influential political figures.
The Indian Express