₹6,000 Crore Bank Scam Unraveled: ED Arrests Industrialist Sanjay Sureka

Kolkata (The Uttam Hindu): Industrialist Sanjay Sureka, owner of Concast Steel and Power Limited, was arrested by the Enforcement Directorate (ED) on Tuesday following extensive raids in Kolkata. The central agency conducted searches at 10 locations connected to Sureka, including his Ballygunge residence, where authorities seized jewellery worth ₹4.5 crore and several foreign-made luxury cars.

This arrest is part of an ongoing investigation into a massive ₹6,000 crore bank fraud involving at least 16 banks across the country. Sources revealed that Sureka allegedly secured loans through multiple accounts and fraudulent claims but failed to repay them. The ED had been monitoring his activities for over a year as part of their probe into the scam.

During questioning, Sureka reportedly failed to provide satisfactory answers regarding the misuse of funds and the seized assets. The industrialist could not produce valid documents to support the ownership of the luxury items discovered at his home. Investigators are now focusing on the trail of funds to uncover how the misappropriated money was used and whether any of it was smuggled abroad.

The Enforcement Directorate continues its investigation into what could be one of India’s largest financial frauds, with further arrests and developments expected in the coming weeks.