Money Laundering case: ED attaches properties of financial firm in Kerala

The ED started the probe on the basis of 122 FIRs registered by the Kerala police against the firm which collected over Rs 10 crore of deposits promising to provide high interest.
Representative image
Representative image

KOCHI: The Enforcement Directorate (ED) has provisionally attached assets valued at Rs 27.88 crore of Pathanamthitta-based financial firm PRD Mini Nidhi Limited which is facing a probe under Prevention of Money Laundering Act (PMLA).

Movable and Immovable properties in the name of Anilkumar D, the MD of the firm and his family members, and David George, former manager of the firm, were attached by the agency. Both were arrested by the agency and they are in judicial custody.

The ED started the probe on the basis of 122 FIRs registered by the Kerala police against the firm which collected over Rs 10 crore of deposits promising to provide high interest.

However, depositors approached the police when their investment was not returned.

According to the ED, Anilkumar and David utilised the deposits for personal purposes including for the purpose of investment in several other personal properties and businesses and thereby cheated the depositors, said a statement.

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