ED arrests NRI businessman Thampi in PMLA case linked to property deals

The Central agencies including the NIA and the Customs had opposed her anticipatory bail plea in the Kerala high court. Photo: iStock

The Enforcement Directorate (ED) has arrested NRI businessman CC Thampi, being probed for alleged forex violations of over ₹1,000 crore and other charges, under the anti-money laundering law, officials said on Monday (January 20).

The central agency has been probing Thampi in a case of purchase of property in Kerala in alleged contravention of the Foreign Exchange Management Act  (FEMA).

A show cause notice of over ₹1,000 crore was slapped by the ED against him in 2017.
The Dubai-based businessman has also been summoned by the agency in the past for questioning on his alleged links with Robert Vadra, son-in-law of Congress President Sonia Gandhi, and absconding arms dealer Sanjay Bhandari.

Thampi has been arrested under the Prevention of Money Laundering Act (PMLA), they said.

He is expected to be produced before a court on Monday for further custody, they said.

The firms that are being investigated by the ED, as part of the two FEMA show-cause notices issued against him, include Holiday City Centre Private Limited, Holiday Properties Private Limited and Holiday Bekal Resorts Private Limited.

Agency sources had said the businessman was also under the scanner for his reported dealings with some politicians and bureaucrats.

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