BLM investment fraud case: ED carries out raids at 10 locations in Kerala and Tamil Nadu

KOCHI: The Enforcement Directorate (ED) has intensified its probe into the BLM investment fraud case, conducting searches at 10 locations across Kerala and Tamil Nadu. The raids are underway at BLM offices in Thiruvananthapuram, Kochi, Kozhikode and Thrissur, as well as the company's head office in the Koyambedu area of Chennai.

The ED is investigating alleged money laundering and hawala transactions under the Prevention of Money Laundering Act (PMLA). The case involves an alleged fraud of Rs 300 crore in Tamil Nadu and other states under the guise of a multi-state cooperative society. The case was registered based on a complaint filed by Sonia, a former BLM employee.

BLM Chairman R Premkumar was earlier arrested by the Kozhikode Crime Branch in connection with the case. He was taken into custody in Chennai. However, a court later granted him bail, citing procedural lapses in his arrest. The ED's latest raids come as the Crime Branch is taking steps to arrest Premkumar again.