The Enforcement Directorate (ED) conducted searches at various locations in Kerala on Tuesday in connection with an alleged fraudulent Corporate Social Responsibility (CSR) fund scheme. The scam, which reportedly deceived people by promising high-value items at heavily discounted rates, is under extensive investigation.
According to official sources, the searches targeted individuals, entities, and trusts that received money from Anandu Krishnan, the prime suspect in the case. The ED is working to trace the illegal funds amassed from unsuspecting victims, many of whom belong to economically weaker sections. Authorities are also examining the potential involvement of politicians, electronic and automotive dealers, cooperative banks, and even a fertilizer manufacturing company.
Preliminary estimates suggest that fraudsters collected around ₹450 crore through this scheme. The operation aims to determine the exact number of victims, the total amount swindled, and the destinations where the money was diverted. The money laundering investigation stems from a case initially registered by the Kerala Police Crime Branch, following multiple complaints.
Victims alleged that they were misled into believing that the discounts were part of CSR initiatives by various NGOs and charitable organizations. Authorities say the total confirmed fraud amount stands at approximately ₹37 crore.
Krishnan, a resident of Thodupuzha in Idukki district, was arrested for orchestrating the scam, in which people were lured with promises of two-wheelers, laptops, sewing machines, and home appliances at half their market price. The Kerala Police has launched an extensive probe as complaints continue to surface from different parts of the state.
The ED’s raids are expected to uncover crucial evidence, helping authorities track the illicit funds and bring those responsible to justice
