ED provisionally attaches properties worth ₹32 lakh in UAE loan fraud case

The Enforcement Directorate (ED), Kochi zonal office, has provisionally attached properties worth around ₹32 lakh in Kasaragod belonging to a couple and their son in connection with an alleged overseas loan fraud and money laundering case.

The properties, registered in the names of Sulaiman C.T., Nafeesath O.T., and Muhammed Sinan Sulaiman, were attached through an order dated February 24, 2026 under the Prevention of Money Laundering Act, 2002, said a communication from the agency.

The ED initiated the probe based on a case registered by the Chandera police on a complaint by Invest Bank PSC. The ED alleged that Abdurahiman Chenoth Thiruthummal, proprietor of Hexa Oil & Gas Services LLC, availed loans totalling 68.159 million AED (approximately 168.63 crore) from the UAE-based bank between 2013 and 2017 by submitting false financial statements and misrepresenting the purpose of funds.

Though sanctioned for business development, a substantial portion was allegedly diverted to India, including ₹4.6 crore credited to his NRE account. Of this, ₹34 lakh was transferred in tranches to his brother Sulaiman between April 2014 and March 2017, allegedly for constructing a house in Kasaragod.

In 2022, Mr. Sulaiman transferred most of the property to his wife and son for ₹4.5 lakh. The ED termed the transaction a sham, suspecting it was meant to shield proceeds of the crime. Further investigation is under way, the agency said.