Unraveling the Kerala CSR Fund Scam

The Enforcement Directorate conducted searches in Kerala regarding a fake CSR fund scam. Fraudsters, including Anandu Krishnan, duped people into investing by promising discounted items. Over Rs 450 crore was believed collected. The investigation seeks to uncover the scope, funds, and individuals involved in the fraud.

The Enforcement Directorate carried out searches across various locations in Kerala on Tuesday, targeting a suspected fake CSR fund scam. Fraudsters allegedly misled numerous victims, offering them laptops, two-wheelers, and home appliances at half price.

According to agency sources, entities and individuals connected to Anandu Krishnan, the scam's key suspect, are under investigation. They aim to trace funds collected through fraudulent promises directed at less privileged segments. The operation has brought politicians, electronic dealers, automotive dealers, cooperative banks, and even a fertiliser manufacturing firm under scrutiny.

Investigators suspect the fraud ring amassed around Rs 450 crore from depositors. The ongoing searches seek to determine the extent of the list of victims, the full sum defrauded, and the final destinations of the diverted funds. Originating from an FIR by the Kerala Police Crime Branch, the money laundering case highlights false claims linked to CSR activities of NGOs. The police previously apprehended Krishnan, who allegedly executed these scams promising discounted scooters, sewing machines, and other goods.