Kerala: ED provisionally attaches FDs along with seized cash recovered from bank lockersin Gold Smuggling Case
Enforcement Directorate, ED has provisionally attached Fixed Deposits along with seized cash recovered from the bank lockers totalling to one crore 85 lakh in Kerala Gold Smuggling Case. Amongst the attached assets, Rs one crore belong to former Principal Secretary to Chief Minister of Kerala M. Sivasankar.
The ED has initiated investigation under Prevention of Money Laundering Act on the basis of National Investigation Agency, NIA’s FIR in Kochi against Sarith P S, Swapna Prabha Suresh, Faisal Fareed and Sandeep Nair under the Unlawful Activities (Prevention) Act. During the course of investigation, it was revealed that the accused persons were indulged in illegal smuggling of gold to India and huge amounts of proceeds of crime were generated.