ED freezes assets worth ₹1.78 crore in Advocates’ Welfare Fund scam case

The Enforcement Directorate (ED) of Kochi District Office has attached three immovable properties and two movable properties worth approximately Rs 1.78 crore belonging to MK Chandran, former accountant of the Board of Trustees of Kerala Advocates Welfare Fund and his family members.

A letter from the ED stated that the properties were attached under the provisions of the Prevention of Money Laundering Act, 2002.

The agency initiated the investigation after the Kerala Vigilance and Anti-Corruption Bureau registered a first information report (FIR) under the Prevention of Corruption Act (1988) and the Indian Penal Code (1860) against Mr. Chandran and others on May 11, 2018.

The FIR pertained to alleged misuse of funds of the Kerala Lawyers Welfare Fund Trustees during the period from 2007 to 2017. The investigation was then handed over to the Central Bureau of Investigation, which submitted a final report on December 14, 2023.

According to ED, Mr. Chandran misappropriated funds by misusing his official position while working as an accountant. According to the agency, proceeds of crime amounting to approximately 6.07 billion rupees were obtained in cash and then diverted and layered into personal bank accounts, as well as the accounts of his wife and other relevant persons.