On Tuesday, November 26, the Directorate of Enforcement (ED) arrested Ismail Chakkarath, a resident of Kannur, in connection with a major money laundering case. Chakkarath is accused of illegally diverting business loans worth Rs61.2 crore from Qatar to Kerala. He was produced before the Kozhikode second additional district judge and remanded in judicial custody until December 10.
Sources reported that ED teams from the Kozhikode sub-zonal office had carried out detailed raids at three locations in Kerala, targeting the residential properties of individuals connected to Chakkarath. During a raid on August 28, the teams seized crucial documents that revealed the illegal routing of proceeds from a fraudulent business loan scheme. The funds were diverted by deceiving United Bank Limited in Qatar, investigators confirmed.
Chakkarath’s arrest marks a significant development in the ongoing investigation, as authorities continue to probe his involvement in the illicit financial operations.
