The Enforcement Directorate (ED) on Friday morning conducted raids at the residence and offices of former MLA and Trinamool Congress (TMC) leader PV Anvar as part of its investigation into a money-laundering case linked to the Kerala Financial Corporation (KFC) loan scam. Searches are currently underway at Anvar’s park in Manjeri and at the residence of his aide, Siyad.
According to reports, ED teams from Chennai, Kozhikode, and Kochi units reached Anvar’s house at Othayi here around 6:30 am. Simultaneous searches were also carried out at the residences of Siyad and the KFC officials involved in the matter.
Officials stated that the TMC leader and his associate had jointly availed loans amounting to ₹12 crore in 2015. Anvar is accused of pledging the same property documents to secure two separate loans, resulting in a total loss of ₹22.30 crore to KFC due to default in repayment.
The Vigilance and Anti-Corruption Bureau (VACB) has already initiated a probe into the alleged fraud and named Anvar (58) as the fourth accused in the corruption case. The other accused include his associate Siyad, KFC Chief Manager Abdul Manaf, Deputy Manager Mini, and another official, Muneer Ahammad.
According to the findings of the Vigilance and ED, KFC Malappuram sanctioned a loan of ₹7.5 crore to Anvar’s driver Siyad for business purposes in 2015 without properly assessing the collateral. Loan repayments came to a halt within months.
Later, two additional loans — ₹3.05 crore and ₹1.56 crore — were sanctioned to Anvar's firm, PVR Developers, against the same collateral that had been used for the earlier defaulted ₹7.5 crore loan, officials said. This alleged loan misappropriation caused KFC to incur a total loss of ₹22.30 crore.
The ED recorded the statement of Murugesh Narendran, the complainant in the VACB case, last month. Anvar, a former MLA from Nilambur, parted ways with the LDF following differences and subsequently contested the Assembly by-election on an All India Trinamool Congress ticket earlier this year.
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