On March 30, 2023, the Directorate of Enforcement in Kolkata detained businessman Kaushik Kumar Nath in connection with a money laundering investigation. Kaushik Kumar Nath used fake and false documentation to get different loan facilities from the State Bank of India. The money obtained under the pretext of credit facilities was withdrawn in cash and used for purposes other than those authorised. Around Rs. 95 crores has been wrongfully taken from the State Bank of India.
On the basis of 04 distinct FIRs/Charge Sheets registered/filed by CBI, Kolkata, ED has opened the PMLA inquiry. Another case filed by the Crime Branch of the Mumbai Police has also came to the attention of the ED while ED Kolkata is conducting its probe. Kaushik Kumar Nath routinely assumes several identities when cheating banks. He just relocated to Bombay, where he carried out these kinds of illegal operations.
The accused purchased a number of immovable properties with proceeds from crime, according to ED. Four properties totalling Rs. 3.68 crores are already attached by the ED out of the aforementioned properties. On March 31, 2023, Kaushik Kumar Nath was brought before the Hon’ble Special Court in Kolkata. The Honorable Court gave ED custody of him for ten days till October 4, 2023. The case is currently the subject of more research.
