ED Cracks Down on Former MLA PV Anvar's Properties in ₹22.3 Crore KFC Loan Scam
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In a major crackdown, the Enforcement Directorate (ED) conducted raids at the homes and premises linked to Trinamool Congress leader and former MLA PV Anvar and four others on Friday. The probe follows allegations that the group collectively defrauded the Kerala Financial Corporation (KFC) of ₹22.3 crore by violating loan norms and misusing property documents to secure multiple loans. The ED, aided by central security personnel, searched Anvar's home in Othayi, Malappuram district, and premises linked to his driver, A Siyad, and three KFC officials: C Abdul Manaf, T Mini, and P Muneer Ahamed. According to officials, a ₹7.5 crore loan was sanctioned to Siyad in 2015 without proper documentation or collateral, resulting in a loss of ₹16.52 crore for KFC. The ED probe, under the Prevention of Money Laundering Act (PMLA) 2002, is examining alleged irregularities, including disproportionate assets, diversion of funds into real-estate projects, and suspected benami holdings. Anvar, currently a Trinamool Congress state convenor, previously served as a two-time MLA from Nilambur Assembly constituency in Malappuram and was associated with the LDF before breaking ranks with the party last year. The Vigilance and Anti-Corruption Bureau (VACB) had earlier registered a case against Anvar and others in connection with the alleged loan scam.
