New Delhi, Nov. 7 -- The Enforcement Directorate (ED) announced on Friday that it has attached assets worth Rs 20.4 crore in a money laundering case related to cheating allegations against Thunchath Jewellers and others.
The attached assets include various immovable properties in Kerala and Karnataka belonging to the accused.
According to an ED official from the Kozhikode Sub-Zonal Office, the investigation under the Prevention of Money Laundering Act (PMLA) revealed that Thunchath Jewellers, a unit of Accomplish Marketing Private Limited, began its business in Tirur in 2012. The company had 15 directors, with M. Jayachandran serving as the Managing Director.
Thunchath Jewellers launched various monthly investment schemes and collected f...