Daijiworld Media Network – Kolkata

Kolkata, May 22: The Enforcement Directorate (ED) on Thursday launched simultaneous raids at multiple locations across Hooghly and Birbhum districts in West Bengal, as part of its probe into a massive investment fraud case linked to a bogus financial entity – LFS Broking.

Sources said five premises across Arambagh in Hooghly and Bolpur in Birbhum were searched by ED teams, with each unit accompanied by Central Armed Police Forces (CAPF) personnel for security.

The raids targeted residences and offices of key individuals involved in the scam, including Dilip Matiti, director of LFS Broking. Residences of the company’s top employees Alok Roy, Sourav Adhikari, and Sahil Seikh were also searched.

In a notable development, ED officials also conducted searches at a resort in Arambagh, owned by Ziaur Rahaman, who is already behind bars in connection with similar investor frauds. Sources said Rahaman had business ties with LFS Broking and also operated ventures in Saudi Arabia and Bangladesh.

The case came to light after several investors were reportedly duped of their life savings through fraudulent investment schemes floated by LFS Broking. The scam took a tragic turn when two victims allegedly died by suicide, including one who took the drastic step at the company’s office itself.

While the search operations are ongoing, authorities have not yet confirmed any arrests in the matter.

The ED is now examining financial links and cross-border operations of the accused, raising fears of a wider nexus involved in duping unsuspecting investors under the guise of high returns.