Anto Antony Faces ED Investigation Over Fraudulent Loan Allegations Linked to NCS

Kochi: The Enforcement Directorate (ED) has initiated an investigation into Pathanamthitta MP Anto Antony in connection with a money laundering case involving the Nedumparampil Credit Syndicate (NCS). The ED is looking into allegations that funds provided to Anto Antony by NCS owner N M Raju were fraudulent.

Raju had recently disclosed that he had lent Rs 2 crore to Anto Antony multiple times in 2019 for election campaign expenses. The ED is expected to issue a notice soon, summoning Anto Antony for questioning.

The ED had previously raided the NCS office in an effort to trace financial links to Thantri Kandararu Rajeevaru, who was arrested in connection with the Sabarimala gold theft case. The raid also sought to verify reports that the Tantri had invested Rs 2.5 crore in NCS.

Allegations of Campaign Funds Mismanagement

Raju has alleged that the Rs 2 crore given to Anto Antony for election campaigning was never repaid in full. Despite repeated requests, only Rs 20 lakh was returned. He further claimed that the loan was provided without any formal documentation, relying instead on personal relationships.

Anto Antony has publicly admitted to receiving the money, but maintained that the money was used in the campaign and later returned the entire amount to Raju after the elections.

The ED is now assessing whether the funds transferred by Raju constitute proceeds of crime. If the money was used in the election campaign, the ED will also scrutinize whether it was properly disclosed in the accounts submitted to the Election Commission.

ED Raids NCS Offices

In a separate development, the ED conducted raids on the NCS office near the KSRTC bus stand in Thiruvalla and the residence of NCS owner N M Raju in Ramanchira. This search was part of a broader investigation into the financial dealings of the Nedumparampil credit syndicate. Raju has denied reports that Thantri Kandararu Rajeevaru had deposited any money with NCS.

Special Investigation Team to Question Anto Antony

The Special Investigation Team (SIT) is also preparing to question Anto Antony, following the interrogation of Adoor Prakash in the Sabarimala gold theft case. The SIT is preparing to issue a notice and summon the MP in the coming days. Additionally, Anto Antony’s ties to Unnikrishnan Potty, a figure involved in the case, are under scrutiny. Photographs showing Anto Antony with Sonia Gandhi and Potty are also being examined.

A History of Controversial Transactions

Nedumparampil Credit Syndicate (NCS), which has about 150 branches across Kerala, has been embroiled in controversy since 2021. The case surfaced when investors reported that they had not received their dues. Following complaints at various police stations, it was revealed that a fraud involving approximately Rs 100 crore had taken place. The ED subsequently registered a case to investigate whether the fraud was part of a larger money laundering scheme.

Reports later emerged indicating that individuals involved in the Sabarimala gold theft case had invested large sums of money in NCS.

On May 7, 2024, NCS owner N M Raju, along with his wife Grace and sons Alan George and Anson George, were arrested in connection with the ongoing fraud investigation.