The Enforcement Directorate (ED) has provisionally attached immovable assets worth ₹37.59 crore in connection with an alleged money laundering case linked to the BSNL Employees’ Co-operative Society in Kerala’s Thiruvananthapuram. According to the agency, the action has been taken under the provisions of the Prevention of Money Laundering Act (PMLA). Investigators claim that the probe has so far uncovered alleged financial irregularities exceeding ₹300 crore, while an earlier departmental inquiry estimated the total suspected fraud at approximately ₹350 crore.
According to the ED, the attached assets comprise around 120 immovable properties located across Thiruvananthapuram and Kollam districts, allegedly belonging to 16 accused persons named in the case. The agency has issued provisional attachment orders to the concerned revenue authorities for further proceedings. Officials stated that the properties are suspected to have been acquired using proceeds of the alleged crime and have been attached to preserve them until the investigation is completed.
The accused include former society president A.R. Gopinathan, former secretary Pradeep Kumar, clerk Rajeev, and several former managing committee members and employees of the co-operative society. The ED noted that former president Gopinathan has since passed away. In total, 19 individuals have been named as accused, including office-bearers, board members and staff associated with the society.
The central agency has recently intensified its investigation to trace the flow of funds and identify assets allegedly acquired through the misappropriated money. Investigators are analysing financial transactions, property purchases, banking records and other documentary evidence to determine how the allegedly siphoned funds were utilised. Officials said the provisional attachment aims to secure suspected proceeds of crime and ensure their availability for future legal proceedings.
An earlier departmental inquiry had estimated the alleged financial irregularities at around ₹350 crore. Based on those findings, authorities initiated revenue recovery proceedings in May 2026 and issued notices to the accused seeking their explanations. However, representatives of the depositors have alleged that the recovery process moved slowly, allowing the accused sufficient time to approach courts and seek legal relief.
According to N.A. Abraham, convener of the BSNL Depositors’ Forum, as many as 212 properties linked to the accused in Thiruvananthapuram and Kollam have already been legally attached. He claimed that a timely auction of these properties could generate enough funds to repay at least half of the affected depositors. However, he also alleged that the official recovery process has progressed at an unnecessarily slow pace, delaying relief for thousands of depositors.
Legal experts note that the provisional attachment of assets is a crucial step in money laundering and financial fraud investigations involving co-operative institutions. Such measures help prevent the transfer, sale or concealment of properties suspected to have been acquired through illegal proceeds and facilitate their eventual confiscation, auction or restitution, subject to court orders.
The ED has clarified that the investigation remains ongoing and that financial records, banking documents, property transactions and other evidence are being examined in detail. If fresh evidence emerges or the involvement of additional individuals is established, the scope of the investigation may be expanded further. At present, the agency’s primary focus is on tracing the complete trail of the alleged proceeds of crime and identifying all assets linked to the suspected financial fraud.
