Authorities target Ponzi scheme operators in North and South Kolkata

Investigators have linked the recent Kolkata raids to a broader pattern of Ponzi activities that have plagued West Bengal since 2012. The ED’s probe revealed that the APM Group, masquerading as a legitimate investment firm, amassed money from the public without obtaining any regulatory clearances. The collected capital was then funneled into diverse sectors via a dummy corporation, effectively creating a false investment trail. Officials highlighted that similar tactics were employed by earlier scams such as Sharada Group and Roz Valley Group, which also relied on multi‑level marketing fronts to lure investors. The current operation aims to dismantle the network and recover the misappropriated assets.