NEW DELHI: The Enforcement Directorate (ED) is conducting search operations on Friday at multiple premises linked to former legislator PV Anvar and others in Kerala in connection with a money-laundering case. case linked to the Kerala Financial Corporation (KFC) loan scam.

The accused were allegedly involved in laundering money by fraudulently obtaining loans sanctioned by the Kerala Financial Corporation in 2015.

PV Anvar, who served as the independent Nilambur MLA and his associates had availed loans amounting to Rs 12 crore in 2015. Anvar is accused of pledging the same property documents to secure two separate loans, causing a loss of Rs 22.30 crore to KFC due to default in repayment.

The ED is examining disproportionate assets, suspected benami holdings, diversion of funds into real-estate projects, and other unaccounted investments to trace the laundering trail.