Directorate of Enforcement has provisionally attached movable and immovable properties worth Rs. 6.03 crores under the provisions of Prevention of Money Laundering Act (PMLA), 2002 in the case against K N Marzook and others. Attached properties consist of various movable and immovable properties in the form of bank accounts, lands and residential and commercial space in Kerala Trade Centre (KTC) building situated in Ernakulam standing in his name as well as in the name of Kerala Chamber of Commerce and Industry (KCCI) and Cherupushpam Films Private Limited.
ED initiated money laundering investigation against K N Marzook & others on the basis of FIR filed by Central Police Station, Ernakulam district, Kerala. Investigation by ED revealed that K N Marzook misusing his official position, made KCCI enter into sale agreements with buyers of KTC and received money from various buyers for selling the building space of Kerala Trade Centre in cash.
The investigation revealed that K N Marzook received huge cash amounts from the prospective buyers and had diverted money received from the sale of KTC building space to start a private TV channel namely India Middle East Broadcasting Network (IMBEN). Ministry of Information and Broadcasting banned the TV channel due to involvement of K N Marzook. Further, it was revealed KN Marzook diverted funds from KTC accounts to KCCI and IMEBN accounts.
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