The allegations primarily revolve around financial misappropriation and various off-the-books monetary transactions. It is alleged that funds were collected from various sources and subsequently routed abroad through the 'Hawala' network. The ED further claims that international Hawala channels were utilized in these operations. The ED's complaint specifically cites financial misappropriation amounting to at least ₹50 crore.
Furthermore, there are allegations that loans were secured without any valid documentation, and that various baseless bills and invoices were submitted. The ED asserts that funds were procured from third parties and subsequently transacted through the Hawala system; a significant portion of these funds allegedly flowed into iPAC. Based on these allegations, several individuals associated with the firm were interrogated. It was through this process that Vinesh's name surfaced. The ED had previously conducted searches at iPAC's office in Kolkata, as well as at the residence of iPAC's principal, Pratik Jain.
Vinesh's arrest has immediately sparked a political controversy. The ruling party has raised questions regarding the timing of the arrest—specifically, why the principal of a political consultancy firm associated with the Trinamool Congress was arrested just ahead of the elections. The BJP, however, maintains that the agency acted strictly in accordance with the law. BJP candidate Dilip Ghosh went so far as to assert that, if deemed necessary, arrests could be made even on the day of the election itself.