ED Investigates IPAC Co-Founder Prateek Jain Amid Political Turmoil in West Bengal
Political Controversy Surrounding IPAC's Prateek Jain
Prateek Jain, co-founder and director of the Indian Political Action Committee (IPAC), has come under scrutiny from the Enforcement Directorate (ED) in a money laundering investigation. On Thursday, the central agency conducted raids at IPAC's Kolkata office and Jain's residence, leading to significant unrest. Following the raids, West Bengal Chief Minister Mamata Banerjee arrived at her office, seizing several documents and launching a fierce attack on the BJP-led central government and the agency, labeling the actions as politically motivated retaliation. Banerjee criticized the BJP for attempting to steal the political and financial data of the Trinamool Congress, calling them the biggest thieves.
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Who is Prateek Jain?
Prateek Jain is an engineer who transitioned into a political consultant. In 2015, he co-founded IPAC alongside Vineesh Chandel and Rishi Raj Singh. Jain studied metallurgical engineering and materials science at the Indian Institute of Technology (IIT) Bombay, where he also interned at Axis Mutual Fund. After completing his engineering degree, he worked as an analyst at Deloitte in 2012. Later, he became a founding member of Citizens for Accountable Governance, a non-profit organization aimed at strengthening accountable governance in India, which eventually evolved into IPAC.
Details of the ED Raids
In addition to the IPAC office located in Salt Lake and Jain's residence on Loudon Street, officials reported that searches were conducted at eight other locations. The raids began at 7 AM on Thursday, accompanied by central paramilitary forces. The ED has also filed a petition in the Calcutta High Court, alleging illegal interference during the search operation. The agency has registered a case against those accused of obstructing the investigation, with the hearing scheduled for Friday before Justice Suvra Ghosh.