Rs 6,000 Crore Bank Fraud: Industrialist Sanjay Sureka Arrested in Bank Fraud Case Following ED Raids

Industrialist Sanjay Sureka, the owner of Concast Steel and Power Limited, was arrested by the Enforcement Directorate (ED) on Tuesday after a series of raids in Kolkata. The ED carried out searches at 10 locations linked to Sureka, including his residence in Ballygunge. During the raids, authorities seized jewellery worth Rs 4.5 crore and several foreign-made luxury cars.

The arrest is part of an ongoing investigation into a massive bank fraud involving Rs 6,000 crore, affecting at least 16 banks across India. Sources revealed that Sureka allegedly obtained loans amounting to Rs 6,000 crore through various accounts and claims, but failed to repay them.

The ED has been monitoring Sureka’s involvement in the fraud for over a year. During questioning, Sureka reportedly could not provide satisfactory answers about the misuse of the loaned funds or the seized jewellery. He also failed to present valid documents for the luxury items found at his residence.

The ED is now focusing on tracking the movement of the misappropriated funds to uncover how the money was used and whether it was smuggled abroad. The investigation continues as authorities dig deeper into the financial trail. More details will be released soon.