Kolkata, November 4, 2026 (Yes Punjab News)
The Enforcement Directorate (ED) on Wednesday searched the residence and office of Kolkata-based businessman Shyamal Byapari as part of a money laundering investigation into an alleged hawala network suspected of handling proceeds from cyber fraud in Guwahati.
The searches began around 7 a.m. at two premises in the Kamalgazi area, including Byapari’s residence under the jurisdiction of Narendrapur police station and his office, officials said.
The investigation, based on a case registered in Guwahati, is examining whether money generated through cyber fraud was routed through a Bengal-based business entity operating under the cover of legitimate rice trading activities.
According to the agency, investigators suspect that substantial amounts were transferred through hawala channels and that financial irregularities involving several crores of rupees may have taken place.
ED teams are looking for digital evidence, bank records, financial documents and other material that could help establish the movement of funds and identify individuals allegedly involved in the network.
Several bank accounts suspected to be linked to the transactions are also under scrutiny. Sources said the accounts could be frozen if the investigation establishes evidence of illegal transactions.
The agency is seeking to determine how the alleged cyber fraud proceeds originating in Guwahati were channelled through the business entity in West Bengal before being circulated through hawala networks.
The latest searches come amid increased ED scrutiny of suspected financial fraud and money laundering operations in Kolkata. The agency had conducted searches at multiple locations in the city weeks earlier in connection with an alleged investment fraud case.
The investigation into Byapari’s business links and the suspected money trail is ongoing.
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