The Enforcement Directorate (ED) conducted searches at 11 locations across Kerala and Tamil Nadu on November 4 in connection with an alleged money laundering case involving Bharath Lajhna Multi State Cooperative Society (BLM), media reports say.
The searches covered premises linked to R. Premkumar, the society’s founder and de facto chairman, including locations in Kochi, Kozhikode and Chennai. The probe concerns allegations that crores of rupees collected from depositors were diverted into accounts of his relatives for personal use.
The action follows a Kerala Crime Branch investigation into suspected financial irregularities. Investigators have reportedly examined 320 bank accounts linked to the case.
Premkumar was arrested on October 29 but subsequently secured bail following procedural lapses. BLM management has denied deposit fraud allegations, claiming its assets exceed liabilities.
