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ED arrests former Kerala IUML MLA, associate in money laundering case
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....D arrests former Kerala IUML MLA, associate in money laundering case<BR>PTI News<BR>Dated:- 9-4-2025<BR>PTI<BR>New Delhi, Apr 9 (PTI) The Enforcement Directorate on Wednesday said it has arrested a former Kerala MLA and the managing director of his company in an alleged investors' fraud-linked money laundering case involving Rs 20 crore. M C Kamaruddin, an ex-MLA of the Indian Union Muslim Leagu....
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....e (IUML) from Manjeswaram seat and chairman of Fashion Gold Group companies, and company managing director T K Pookoya Thangal were taken into custody on April 7, the federal probe agency said in a statement. A special Prevention of Money Laundering Act (PMLA) court located in Kozhikode sent them to ED custody for two days after the duo were produced by the agency before the court on Tuesday. ....
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....The PMLA case stems from 168 FIRs registered by the Kannur and Kasaragod district police against Fashion Gold companies, Kamaruddin, Pookoya Thangal and others. The accused company and its directors collected "huge" deposits from the public with the "dishonest" intention of cheating the investors by offering attractive returns, the agency said. A total amount of Rs 20 crore was "siphoned off" ....
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....by the accused, it claimed. The company was "not authorised" to accept deposits from the public and, therefore, they devised a plan to receive deposits from people in the guise of investment in share capital/advances. For this, investors, mostly NRIs, were made directors/shareholders in the company and the accused purchased immovable properties in their names out of the funds collected by the ....
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....firm, as per the agency. Assets worth Rs 19.62 crore were attached by the ED in this case earlier. PTI NES -- RT RT<BR> News - Press release - PIB....