ED Raids Ex-MLA P V Anvar’s Properties In Ongoing Probe Into Rs 12-Crore KFC Loan Scam

ED raids multiple locations linked to former MLA P V Anvar in a money-laundering probe tied to an alleged Rs 12-crore KFC loan fraud.

Anvar and associates secured Rs 12 crore in loans using the same property twice, causing Rs 22.30 crore losses.

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The Enforcement Directorate launched a sweeping set of searches on Friday morning targeting several properties connected to former MLA and Trinamool Congress leader P V Anvar as part of its probe into the alleged Kerala Financial Corporation (KFC) loan scam. Teams from the agency’s Chennai, Kozhikode and Kochi units began operations around 6:30 am, converging on Anvar’s home in Othayi as well as the residence of his close aide Siyad.

Raids At PV Anvar's Properties Across Multiple Locations

The coordinated action extended to Anvar’s amusement park in Manjeri, where officers combed through financial ledgers and operational documents. Parallel searches took place at the homes of Siyad and several officials from KFC who are under scrutiny.

Investigators are examining whether the group played a direct role in facilitating irregular loans and enabling misuse of property documents.

Loan Fraud Allegations Under the Scanner

Officials allege that in 2015, Anvar and his associate secured loans totalling Rs 12 crore by pledging the same property papers twice to obtain separate credit. The alleged default is said to have inflicted losses amounting to Rs 22.30 crore on KFC, as per a report on Manorama. The Vigilance and Anti-Corruption Bureau had already initiated an inquiry earlier, naming Anvar (58) as the fourth accused.

His aide Siyad, KFC Chief Manager Abdul Manaf, Deputy Manager Mini, and another official, Muneer Ahammad, have also been listed as accused.

The VACB had previously searched Anvar’s amusement park after receiving complaints of questionable financial activities. With the suspected irregularities surpassing the Rs 5-crore threshold, the Enforcement Directorate took over the matter under provisions of the Prevention of Money Laundering Act.

Political Timing Adds to the Spotlight

ED officials are currently scrutinising documents, digital files, and records of financial transactions seized during the raids. More details are expected as the investigation progresses.

The enforcement action comes at a politically delicate moment for Anvar. After breaking ranks with Chief Minister Pinarayi Vijayan earlier this year, he resigned his Nilambur Assembly seat and briefly aligned with the Congress-led UDF before contesting independently — a move that saw him finish a distant third. The fresh round of raids coincides with his preparations for seat-sharing talks with the UDF ahead of the December 11 local body elections, adding a new twist to an already turbulent political phase.