Kerala loan fraud case: ED raids ex-MLA PV Anvar’s residence, business premises
Malappuram: The Enforcement Directorate (ED) on Friday launched extensive raids at multiple locations linked to former two-time MLA and Trinamool Congress leader P.V. Anvar in Malappuram as part of an ongoing investigation into alleged financial irregularities involving a Rs 12 crore loan from the Kerala Financial Corporation (KFC).
The raids began around 6.30 a.m. and were conducted simultaneously by ED units from Chennai, Kochi and Kozhikode.
Searches were carried out at Anvar’s residence in Othayi, his ‘Silsila’ amusement park in Manjeri, and the homes of his close aides.
Heavy police security was deployed during the operations.
According to ED sources, the probe is centred on allegations that Anvar fraudulently obtained two separate loans using documents of a single property, without sufficient supporting records.
He allegedly conspired with officials to secure the loan by misusing his political influence during the period when he was reportedly closely aligned with the ruling LDF leadership.
Investigations indicate that Anvar and his close aide had jointly availed a Rs 12 crore loan from KFC in 2015 but failed to repay it.
With interest, the outstanding amount has reportedly risen to Rs 22 crore, causing substantial loss to the financial institution.
Vigilance had recently conducted raids at the amusement park based on complaints of suspicious financial transactions, following which the Enforcement Directorate stepped in, as the alleged financial malpractice exceeded the Rs 5 crore threshold required for central investigation.
The ED officials are examining documents, digital records and financial transactions, though further details have not yet been released. Investigations continue.
Anvar, early this year, after splitting with Chief Minister Pinarayi Vijayan in a surprise move, quit his Nilambur Assembly seat and, after extending full support to the Congress-led UDF, did a somersault and filed his nomination.
But the Congress candidate won an easy win, with sitting two-time legislator Anvar pushed into a distant third place.
This raid comes at a time when he was trying to move towards the UDF and was readying for talks for seat-sharing in the December 11 local body polls.
