Arrested Trinamool MLA’s relative under ED scanner for investing ‘black’ money in mutual fund

A relative of arrested Trinamool Congress MLA Jiban Krishna Saha is now under the Enforcement Directorate’s (ED) scanner for allegedly helping to hide money linked to a school job scam. This person, a family member from Saha’s in-law’s side, is accused of buying investment instruments in Saha’s name to route illegal funds.

Sources say the money Saha collected from the scam was secretly invested in mutual funds. Investigators believe Saha played a key role in funneling money through investments—using a state-owned bank and his close relative, his brother-in-law, to hide the origins of the funds.

The ED reports that this scheme started in 2019. During that time, several mutual fund accounts were opened in the name of Saha’s brother-in-law, and money was regularly deposited into them each month. These transactions are now being examined as part of the ongoing investigation into money laundering and black money practices.

Authorities suspect the investments were a way to clean money gained through corrupt means. In addition, the ED uncovered that a candidate had paid Saha a large sum of money—over multiple installments—in exchange for a school job. This money was also funneled through his brother-in-law and eventually converted into mutual fund investments.

The ED is now looking into more documents, especially details about bank transactions, property purchases, and bank lockers linked to Saha and his family. They believe that investigating all SIP (Systematic Investment Plan) accounts since 2019 could reveal proof of illegal money worth several crores of rupees.

Recently, Saha was arrested in connection with the School Service Commission recruitment scam. After spending six days in ED custody, he is now in jail. He’s scheduled to appear in court again on September 12.

This case highlights the ED’s efforts to crack down on corruption, money laundering, and misuse of legal financial routes to hide illegal wealth.