The Special Court (PMLA) (PMLA) in Kozhikode on Tuesday on Tuesday was handed over to the former MLA MC Kamuddin and his business collaborator TK Pookoya Thang in custody for recovery (ED) for two days. The duo was arrested on Monday in connection with the gold fraud.
Ed arrested Mr. Kamuddin, chairman and Mr. Pookoya Thangal, CEO of Fashion Gold Group of Companies based on 168 first information reports (FIRS) registered at various police stations in Kannura and Kasaragod. The crime branch (CB), Kannur and Karagod, which carried out an investigation in the initial phase, filed indictments that revealed that the accused company and directors gathered huge deposits with dishonest intention to cheat investors and offered attractive returns. CB investigation also revealed that the accused had a siphone of approximately 20 GBP Crore.
The ED investigation later revealed that companies of fashion gold companies were not entitled to receive deposits from the public, and therefore a plan to receive deposits from the public behind the scenes of investment in registered capital or progress from the company directors and shareholders were designed. Investors, mostly non -resident Indians, were created for this single purpose by directors or shareholders of the company. Later, the defendants bought immovable property in their individual names from the funds collected by Fashion Gold Company and subsequently destroyed or converted them, thereby siphoniles means.
Attached properties
Ed previously added immovable property worth 19.62 GBP Crore related to Mr. Kamuddin, Mr. Pokoya Thangal and others under PMLA from 2002 after several people filed a complaint against a company claiming that investors were in investment by claiming claims that society was administered by officials and collaborators). Initially, the victims reportedly reluctant to file complaints due to the pressure of the leaders of IUML.
The complaints were later filed when the leaders were unable to deal with investors’ concerns. Other accused in this case include Abdur Razzaq, Muhammad Kunhi, Mahin Kutty Muhammad, Sm Ashraf, Hadid, Muhammad Kunhi Aspilalath, ATP Abdula Hameed, Zainuddin, PC KV nyas, Kv nyas, Kv nyas, kv nyas, kv nyas, kv nyas Nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas, kv nyas. Muhammad, Em Abdul Aziz, Achara Patil Isha, CP Kunhabdullah and Abdul Aziz.
Another investigation is progress, the ED press release said.
Published – April 9, 2025 20:20 is
