ED Alleges Financial Irregularities in TMC Funds, Probes Suspected Money Laundering
The agency alleges ₹160 crore was routed through a charter aviation firm to purchase aircraft, while the TMC dismisses the probe as politically motivated and denies any wrongdoing.
The Enforcement Directorate (ED) has claimed to have uncovered significant financial irregularities while investigating alleged illegal fund collection and money laundering linked to the Trinamool Congress (TMC). The agency recently conducted searches at five locations in and around Kolkata, including premises associated with a charter aviation company, as part of the ongoing probe.
According to the ED, preliminary findings indicate that large sums of money were transferred from TMC’s bank accounts to Carewell Aviation, a charter flight company. Investigators allege that the funds were used to purchase an Embraer Legacy 600 business jet and an AgustaWestland 109SP helicopter. The aircraft were later allegedly leased back to the TMC for use by senior party leaders, including National General Secretary Abhishek Banerjee, with additional payments made from party funds.
The agency suspects the transactions were part of a scheme to divert and misappropriate party funds through layered financial transfers. During the searches, ED officials seized bank records, digital devices, hard drives, and other documents for forensic examination.
The ED alleges that between April 2023 and June 2026, around ₹160 crore was transferred from TMC accounts to Carewell Aviation. Investigators claim a portion of the money was routed through shell companies, including a transfer of ₹82.96 crore to a newly incorporated entity. The agency further alleges that the purchase of the helicopter involved a foreign loan from a Cayman Islands-based company, raising questions over possible violations of foreign funding regulations.
As part of the investigation, the ED has reportedly frozen three TMC bank accounts holding approximately ₹440 crore.
The Trinamool Congress has strongly denied all allegations, accusing the BJP-led Central government of misusing investigative agencies to target political opponents. In a post on X, the party said all funds in its accounts had been transparently disclosed and maintained that the investigation was politically motivated.
The probe was initiated following a complaint filed by rebel TMC MLA Biswanath Das at the Bidhannagar Police Station. The investigation is ongoing, and the allegations have not yet been proven in court.
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