ED conducts searches in 3 districts of Kerala as part of Kannur Urban Nidhi fraud
"The ED conducted search operations at five premises in Kannur, Palakkad and Kottayam districts of Kerala in a money laundering case of fraud that occurred in Kannur Urban Nidhi (KUN). The searches have resulted in the freezing of 8 bank accounts wherein funds to the tune of around Rs 9.75 Lakh were frozen," said the probe agency.
ANI
Oct 25, 2024 22:58 IST
New Delhi [India], October 25 (ANI): The Enforcement Directorate (ED) carried out search operations at five locations in the Kannur, Palakkad, and Kottayam districts of Kerala as part of a money laundering investigation related to a fraud involving Kannur Urban Nidhi (KUN).
According to the probe agency, the searches resulted in the freezing of 8 bank accounts wherein funds to the tune of around Rs 9.75 lakh were frozen.
"The ED conducted search operations at five premises in Kannur, Palakkad and Kottayam districts of Kerala in a money laundering case of fraud that occurred in Kannur Urban Nidhi (KUN). The searches have resulted in the freezing of 8 bank accounts wherein funds to the tune of around Rs 9.75 Lakh were frozen," said the probe agency.
Earlier in January this year, the ED raided various offices of the Kannur Urban Nidhi Limited (KUNL) and the residences of its directors and their associates as part of the probe into an alleged fraud involving the company.
As per reports, the raids were carried out at the offices in Kannur, Kozhikode, Palakkad, Kannur and Kozhikode and houses of directors.
The ED seized several documents related to deposits taken by the firm and bank accounts to which the funds were diverted. (ANI)
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