The Directorate of Enforcement (ED) detained five people from the State under the provisions of the COFEPOSA Act 1974 on Sunday, an official statement issued by the agency said here on Monday.
Those detained have been identified as V.S. Suresh Babu of Kottayam; A.K. Shaji alias Payasam Shaji, Mohammed Shibu and Mohammed Shiju from Ettumanoor, and Siraj V. Essakhan, Ernakulam.
They have been detained after investigations established that they were involved in high volume international hawala operations in contravention of Foreign Exchange Management Act (FEMA), 1999, running into more than ₹300 crores over the past several years, the statement said.
