Ernakulam: The Enforcement Directorate (ED) seized properties of businessman Abdurahman in the cryptocurrency scam. The ED has seized his immovable property, bank accounts and shares of companies worth Rs 3.58 crore.
The ED raided the house and establishments owned by Abdurahman and his wife, Zareena Majeed. On Thursday, the ED conducted raids at eight locations in Kerala linked to cryptocurrency transactions. These raids took place at four places in Kozhikode, three in Ernakulam, and one in the Kasaragod district. The ED launched this investigation under the Prevention of Money Laundering Act (PMLA) as scams related to cryptocurrencies and virtual asset businesses come under this.
Abdurrahman deceived a bank in UAE and extorted Rs 83 crore. A total fraud exceeded Rs 300 crore that happened during 2017-2018. Abdul Rahman has also invested in film and real estate industries in Kerala.
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