: Tuesday, 08 July 2025 9:58 PM
Kolkata. Syed Jiajur Rahman, director of LFS Broking Private Limited, arrested in the fraud case, has been sent to an ED custody of 7 days. The Kolkata team of the Enforcement Directorate (ED) arrested Syed Jiajur Rahman on 5 July under the provisions of the Money Laundering Act (PMLA) -2002.
A production warrant was done in Kolkata court. After the arrest, the ED produced the accused Syed Jiajur Rahman in the Kolkata City Sessions Court. During this time, the court has sent the accused to the custody of ED till 14 July.
According to the ED, Syed Jiajur Rahman is the mastermind of planning fraud through LFS Broking Private Limited. The firm raised their hard earned money from a large number of investors by pretending to have a fixed return of 2 to 3 percent on investment.
Under the money laundering, the ED registered a case and initiated action in the case. On 22 May, several locations of the accused in the case were raided. ED searched for a long time at the targets associated with the director and partners of the firm. During this time, many different bank accounts of the firm and its associated people were freezed.
The ED revealed several movable and immovable properties during the investigation. Taking action in this, two accused Mohammad Anarul Islam and Dilip Kumar Maiti were arrested under the Prevention of Money Laundering Act.
The whole matter is to raise investment from the public by fraud, where the accused gave people to invest in SEBI-Pinged Company in the name of LFS broking firm. Investors were misled by assuring that they were investing in a sebi-approved company, but actually they made other fake firms similar to the same name such as ‘LFS Broking and PMS Services’ and transferred money to it.
Investigation of ED so far has found that the accused have raised an amount of about 1500 crores.
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