Kerala MLA Arrested in Rs 20 Crore Money Laundering Scam

The Enforcement Directorate arrested former Kerala MLA M C Kamaruddin and managing director T K Pookoya Thangal for alleged money laundering. The duo is accused of defrauding investors in a Rs 20 crore scam through their company, Fashion Gold Group. They were taken into custody after being linked to multiple FIRs.

The Enforcement Directorate has taken former Kerala MLA M C Kamaruddin and T K Pookoya Thangal, the managing director of his company, into custody in connection with an alleged investors' fraud and money laundering case amounting to Rs 20 crore.

The arrests were made on April 7, following investigations by the ED. The duo was produced before a special PMLA court in Kozhikode, which granted the agency two days of custody. The case is linked to 168 FIRs concerning the Fashion Gold Group.

Kamaruddin and Thangal reportedly drew large deposits from the public with promises of high returns, which were instead laundered to purchase properties under investors' names. Their company was not authorized to accept public deposits, leading to accusations of deception. The ED has previously attached assets worth Rs 19.62 crore in connection with the case.

(With inputs from agencies.)