DEAR Lottery Raid: 3 crores and counting...ED recovers huge stash of cash

The Enforcement Directorate (ED) intensified its investigation into an alleged lottery fraud case on Friday, conducting multiple raids in Kolkata, including a high-profile operation in the Lake Gardens area. The ongoing investigation is centered on suspicions of large-scale financial fraud involving the DEAR lottery scheme. In the latest operation, ED agents discovered a substantial stash of cash—estimated to be over ₹3 crore—hidden in a multi-storied residence on Prince Ghulam Mohammad Shah Road, with currency counting machines brought in to process the significant sum.

According to ED officials, the search extended to other locations across Kolkata, with teams sweeping various premises connected to the lottery network. Another raid was conducted at Michael Nagar in North 24 Parganas, where a lottery printing office and warehouse were inspected. Sources indicated that the Michael Nagar site served as a hub for lottery ticket printing and storage. The operation was led by a special ED team that arrived from Delhi specifically to investigate the suspected fraud scheme.

On Thursday, ED agents had begun preliminary searches in Lake Market and Michael Nagar. Allegations surfaced that the lottery operation, managed by the DEAR lottery group, systematically defrauded winners of prize money, diverting funds intended for legitimate winners. The ED suspects that a widespread network of individuals may be involved in manipulating the lottery system for financial gain, and efforts are underway to trace all participants in this scheme.

This is not the first probe into the DEAR lottery. In October 2023, income tax officials conducted similar searches at a Madhyamgram printing press and warehouse associated with the DEAR lottery. During that raid, authorities discovered potential links to illicit cash flows and financial misconduct, with allegations that lottery winnings were redirected away from rightful winners. Friday’s raid appears to be a follow-up, aiming to shed light on the depth of the operation.