A Kollam-based businessman, Aneesh Babu (34), was arrested by the Enforcement Directorate (ED) at a hotel in Pachalam, Kochi, this week in connection with a money-laundering probe tied to a high-value cashew import scam under the Prevention of Money Laundering Act (PMLA). Babu — who had been reported absconding after his anticipatory bail applications were rejected by both the Kerala High Court and the Supreme Court — was taken into custody as part of an ongoing investigation that began in 2021.
The ED’s action stems from allegations that Babu and his associates defrauded local traders of approximately ₹24.73 crore by promising to import cashew nuts at below-market prices and failing to deliver on those commitments. Multiple FIRs registered by state police and the Crime Branch formed the basis of the federal probe after it was transferred to the ED.
In an unexpected twist, Babu had previously filed a complaint with the Vigilance and Anti-Corruption Bureau (VACB) accusing an ED Assistant Director, Shekhar Kumar, of demanding a ₹2 crore bribe to halt the money-laundering case against him. That complaint triggered parallel vigilance proceedings and led to the questioning and transfer of the implicated official.
On the same day as his arrest, Babu also approached the Kerala High Court seeking a CBI or court-monitored investigation, alleging the state’s probe had stalled and that a fair inquiry could only be conducted externally. However, the vigilance department countered that the delay was due to Babu’s lack of cooperation, including withholding access to his mobile phone for forensic review. The High Court scheduled the next hearing for January 22.
News as reported
