ED Searches in Kerala, Tamil Nadu in Society Probe

The Enforcement Directorate searched premises in Kerala and Tamil Nadu on Wednesday, November 4, as part of a money-laundering investigation involving Bharath Lajhna Multi State Cooperative Society and its promoter, R Premkumar, officials said. The agency is investigating allegations that society funds were diverted for personal use. The operation was conducted under the Prevention of Money Laundering Act by the ED’s Kochi office. Three reports said 11 premises were searched, while another reported 10 locations. The accounts do not explain the difference, so the final number of locations could not be established from those reports. Premises linked to Premkumar, including office and residential sites, were among those searched, according to one account. The ED alleges that Premkumar, a founding member and the society’s de facto chairman and managing director, diverted money collected from depositors into accounts belonging to his wife and relatives for personal use. The agency also alleges that he pledged the society’s Ragam Theatre without the proceeds reaching the society, and acquired about 500 acres in Kanchipuram in his wife’s name. These are allegations under...