KOCHI: In the wake of fresh disclosures related to the Panama Papers scandal, George Mathew, a chartered accountant from Kottayam, and his son Abishek Mathew were intercepted at Kochi airport by the Bureau of Immigration (BoI) as part of an active investigation conducted by the Enforcement Directorate (ED) under the Foreign Exchange Management Act (FEMA). The duo was intercepted on Tuesday morning just as they were about to leave for Dubai.
ED officials questioned Abishek at their office in Kochi on Tuesday, while George was issued a notice to appear for interrogation. However, he cited health issues for not appearing immediately. The ED will soon inform him of the new date for interrogation.
The Panama Papers scandal exposed an under-investigation law firm based in Panama called Mossack Fonseca. The firm outsourced its offshore transactions through shell companies, some of which were started by George. Between 2011 and 2018, George established offshore shell firms in Singapore, Hong Kong, and Dubai.
Investigation against George and family under FEMA started last year
The ED discovered that some of the firms George established had addresses in Kochi and Thiruvananthapuram as well. The agency is also examining the financial transactions of George and his companies in India. The investigation against George and his family under FEMA began in 2022. George, who had been living abroad for over 20 years, had previously worked in Singapore and later shifted to the Middle East. He was questioned by the ED as part of the probe last year. However, after interrogation, he did not cooperate and left the country. George returned to Kochi recently to attend a family event.
To prevent him from leaving again, the ED issued a travel ban. Meanwhile, two other Keralites, Thomas Mathew P P from Alappuzha and Dinesh Parameswaran Nair from Pathanamthitta were also implicated in the 2016 Panama Papers leak. The leaked documents revealed that Dinesh was a director of a company incorporated in the British Virgin Islands, while Thomas was the director of a company registered in the Bahamas. The financial transactions of Dinesh and Thomas are also under the ED’s scanner.
Who is George Mathew?