Thiruvananthapuram , 08 Jan (H.S):The Enforcement Directorate (ED) is set to register an Enforcement Case Information Report (ECIR) to investigate alleged money laundering linked to the high-profile Sabarimala gold theft case.
The move marks a significant escalation in the probe, as the registration of an ECIR under the Prevention of Money Laundering Act (PMLA) empowers the central agency to trace, freeze, and attach assets believed to be proceeds of crime.
An ECIR is the ED’s equivalent of a police First Information Report (FIR) in criminal cases. Once registered, the agency can formally initiate a money laundering investigation, summon individuals for questioning, seek bank and financial records, and provisionally attach properties and assets suspected to have been acquired through illegal means.
According to sources, the ED will initially focus on scrutinising the financial transactions of the key accused in the case. These include the prime suspect Unnikrishnan Potti, Pankaj Bhandari, owner of Chennai-based Smart Creations, and Govardhan, a jewellery businessman from Ballari. Investigators will examine money trails, bank accounts, business transactions, and inter-linked financial dealings among the accused to determine whether proceeds from the alleged gold theft were laundered through layered transactions or benami channels.
The agency is expected to analyse documents and digital records seized during earlier searches, including invoices, account statements, and transaction histories. Officials said the objective of the first phase of the probe is to establish the generation of illicit proceeds, identify the routes through which the money was moved, and trace assets that may have been purchased or concealed using the suspected illegal funds.
The investigation will be conducted under the supervision of Kochi Additional Director Rakesh Kumar, a senior ED official. Sources indicated that coordinated action with other investigative agencies may follow, depending on the findings of the money laundering probe.
The Sabarimala gold theft case has drawn widespread attention due to its religious sensitivity and the scale of alleged financial irregularities. The ED’s entry into the case signals a broader crackdown on the economic dimensions of the offence, beyond the core criminal allegations.
With the ECIR registration, the accused could face stringent action under the PMLA, including attachment of movable and immovable properties and possible prosecution before a special court. Further developments are expected as the probe gathers momentum in the coming days.
---------------
Hindusthan Samachar / Arun Lakshman
