ED conducts raids in Kerala in money laundering case against Bineesh Kodiyeri
Nov 04, 2020
Thiruvananthapuram (Kerala) [India], November 4 : The Enforcement Directorate (ED) conducted multiple raids in Kerala, in connection with money laundering related to drug trafficking case registered against Bineesh Kodiyeri, son of CPI(M) state secretary Bineesh Kodiyeri in Bengaluru.
The raid that started around 9:30 am is progressing past 8:00 pm at Bineesh Kodiyeri's residence 'Kodiyeri' in Maruthamkuzhi. In the state's capital, raids were carried out at the houses of his two friends and three business establishments in Thiruvananthapuram on Wednesday.
In Thalassery in Kannur district, a raid was carried out at the house of one Anas Valiyaparambath, who is Kannur District Cricket Association office-bearer and a friend of Bineesh. A team of six ED officials reached here.
The ED has found a mismatch in income tax returns and investments. Also, the investigation agency claimed that Bineesh was operating using 'Benamies' to cover up his business trails and also accumulated money through drug deals.
The main purpose of the ED raid in Kerala is to find out the investments made by Bineesh in these companies, which have been operating in Kerala for many years. One company is into car accessories while others are into quarrying and medical supplies respectively. In one company, Bineesh was earlier in Board of Directors.
Meanwhile, in a related development, the Punjab National Bank (PNB) has approached Debt Recovery Tribunal, Eranakulam against Bineesh and his two partners, Anand Padmanabhan and Arun S for defaulting on the repayment of Rs 30.74-lakh taken to fund Old Coffee House, a restaurant in Shangumukam. The case has been posted for November 25 for further proceedings.
