Wed Feb 25 17:10:39 UTC 2026: # ED Attaches Properties in Kasaragod in Overseas Loan Fraud Case

The Story:
The Enforcement Directorate (ED) in Kochi has provisionally attached properties worth approximately ₹32 lakh in Kasaragod, belonging to a couple, Sulaiman C.T. and Nafeesath O.T., and their son, Muhammed Sinan Sulaiman. This action is linked to an alleged overseas loan fraud and money laundering case. The ED initiated the investigation based on a case registered by the Chandera police following a complaint by Invest Bank PSC.

The investigation centers around Abdurahiman Chenoth Thiruthummal, proprietor of Hexa Oil & Gas Services LLC, who allegedly availed loans totaling 68.159 million AED (approximately ₹168.63 crore) from the UAE-based bank between 2013 and 2017 by submitting false financial statements and misrepresenting the purpose of the funds. A portion of these funds was allegedly diverted to India, including ₹34 lakh transferred to Sulaiman between April 2014 and March 2017, ostensibly for constructing a house.

Key Points:

  • The ED attached properties worth around ₹32 lakh in Kasaragod on February 24, 2026.
  • The properties belong to Sulaiman C.T., Nafeesath O.T., and Muhammed Sinan Sulaiman.
  • The case involves alleged loan fraud of 68.159 million AED (approximately ₹168.63 crore) from Invest Bank PSC between 2013 and 2017.
  • Abdurahiman Chenoth Thiruthummal is accused of diverting funds to India, including ₹34 lakh to his brother Sulaiman.
  • Sulaiman allegedly transferred most of the property to his wife and son in 2022 for ₹4.5 lakh, which the ED considers a sham transaction.

Critical Analysis:
The related historical context shows a series of other cases being investigated by the ED including a very large case related to Anil Ambani. This suggests a broader pattern of the ED actively pursuing financial crimes and money laundering cases across the country, targeting individuals and companies of varying sizes.

Key Takeaways:

  • The ED is actively pursuing cases of overseas loan fraud and money laundering.
  • The case highlights the potential for misuse of international financial transactions for personal gain.
  • Authorities are scrutinizing property transfers suspected of being used to conceal proceeds of crime.
  • The relatively small amount of money involved in this case shows the ED is willing to go after smaller cases as well.
  • The ED’s actions are consistent with its mandate to enforce the Prevention of Money Laundering Act.

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