The Enforcement Directorate has taken a Kolkata-based real estate director named Amit Ganguly into custody on money laundering charges. Federal investigators state the accused orchestrated fraudulent property takeovers through widespread forgery and fake joint venture agreements. According to an official press release by the Enforcement Directorate (ED), officials arrested Amit Ganguly.
Amit Ganguly holds the position of Director at Ganguly Home Search Pvt Ltd.
The arrest occurred on September 15 under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. The federal agency produced him before a special PMLA court. The court subsequently remanded him to ED custody for four days.
Investigation Into Fraudulent Property Grabs
The financial probe stems from multiple FIRs filed by the West Bengal Police regarding scheduled offenses under the PMLA. Investigators revealed that Ganguly operated alongside associates and various corporate entities. The syndicate allegedly engaged in cheating and forgery to unlawfully acquire valuable immovable properties.
The probe exposed a systematic pattern of document fabrication. The accused allegedly used fake sale deeds, powers of attorney, and gift deeds to claim false rights. Board resolutions were also manipulated to subvert rightful owners. Furthermore, land and municipal records were tampered with to alter ownership possession.
Modus Operandi and Real Estate Fraud
According to the ED, Ganguly targeted landowners by signing joint venture agreements for development rights. He routinely failed to honor lawful entitlements owed to landowners. Instead, he fabricated legal paperwork to seize control of the assets. The financial gains from these properties legally constitute “proceeds of crime” under the PMLA.
Records indicate that Ganguly faces roughly 23 separate FIRs. Numerous investors and landowners fell victim to this fraudulent modus operandi. Earlier raids on March 28, 2026, at his properties yielded crucial digital devices and incriminating records. Seized materials highlighted his alleged undue influence over local real estate authorities.
The financial investigation remains active as authorities trace further proceeds of crime.
