Karnataka HC grants bail to Bineesh Kodiyeri in money laundering case
Oct 28, 2021
Bengaluru (Karnataka) [India], October 29 : Karnataka High Court on Thursday granted bail to Bineesh Kodiyeri, son of CPI (Marxist) leader Kodiyeri Balakrishnan in a money laundering case.
Bineesh Kodiyeri was arrested by Enforcement Directorate (ED) under the Prevention of Money Laundering Act related to a drug case. The arrest was made following the arrest of Mohammed Anoop, an alleged drug peddler, in the case.
The economic offences watchdog had earlier said that Mohammed Anoop had during his custodial interrogation admitted that he was indulging in the sale and purchase of narcotics drugs and was closely associated with Bineesh Kodiyeri. It had also said that the probe has revealed Anoop held various bank accounts and indulged in transferring and layering of huge proceeds of crime into several accounts.
Anoop could not explain these cash and fund transactions and was completely evasive in his replies.
"Fund trail investigation also established that a huge amount of unaccounted funds were being regularly credited in his accounts by Bineesh Kodiyeri. These were preceded by large cash deposits in Kerala into the accounts of Bineesh," ED statement had said.
Last year, ED had initiated an investigation against Mohammed Anoop and others based on an FIR registered by Narcotics Control Bureau, Bengaluru.
