The Enforcement Directorate (ED) has provisionally attached immovable assets worth Rs 37.59 crore under the Prevention of Money Laundering Act (PMLA) in connection with the alleged BSNL Employees’ Cooperative Society fraud in Kerala, media reports say.
The attached assets comprise around 120 properties belonging to 16 accused persons across Thiruvananthapuram and Kollam districts. According to the ED, the money laundering investigation is linked to an alleged financial fraud exceeding Rs 300 crore involving the cooperative society.
The accused include former office-bearers, managing committee members and employees of the society. The agency stated that the properties were allegedly acquired using proceeds of crime and have been attached to safeguard them during the investigation.
The case stems from allegations of large-scale financial irregularities and misappropriation of funds, with further investigation into the matter continuing.
