5 months ago
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The Enforcement Directorate (ED) is interrogating a resident of Kasaragod accused of siphoning off ₹300 crore from various financial firms in Dubai.
The accused was picked up from a hotel here on Thursday morning. He was taken to the ED office where he is being grilled since.
The accused allegedly borrowed from various financial firms in the UAE which he is suspected to have invested in businesses in Kerala. In this connection, the ED also conducted raids at the offices of 18 companies, including in construction and hospitality industries, suspected to have benefitted from those investments. It is also suspected that he may have pumped funds into the Malayalam film industry.
The investigation agency intervened after the UAE authorities shared information about the accused with the Union government. The UAE has also reportedly sought his extradition in cases registered there.
