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The Hindu
The Hindu
National
The Hindu Bureau

ED arrests Managing Director of Heera Group in money laundering case

ED CBI SBI Kerala Kochi Thiruvananthapuram

The Enforcement Directorate (ED) has arrested A. Abdul Rasheed, Managing Director of the Heera Group based in Thiruvananthapuram, Kerala, in connection with a case related to money laundering and alleged fund diversion.

His arrest was recorded on December 4 (Monday) night by the Kochi unit of the agency. He was set to be produced before the Prevention of Money Laundering Act (PMLA) special court here on December 5 (Tuesday) afternoon.

The ED had registered the case in 2021 based on a first information report (FIR) filed by the Central Bureau of Investigation (CBI) against the construction company following allegations that it had fraudulently diverted funds, causing a loss of around ₹15 crore to the State Bank of India (SBI).

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