Half-price scam: ED files first chargesheet

KOCHI: The Enforcement Directorate (ED) has filed its first chargesheet in the half-price scam case, naming Ananthu Krishnan, a native of Kudayathoor in Thodupuzha, as the first accused, and K N Anandakumar, former chairman of the NGO Confederation and chairman of Saigramam Global Trust, as the second accused. Companies linked to both Ananthu and AnandaKumar have also been included in the chargesheet. The ED has stated that assets worth Rs 4.5 crore belonging to Ananthu Krishnan have been attached, as mentioned in the chargesheet submitted before the PMLA court in Kaloor.

The ED registered the case under the Prevention of Money Laundering Act (PMLA) in February 2025. This came after the state government handed over the investigation to the Crime Branch. The ED found that Ananthu Krishnan had purchased large amounts of land and had paid advances to several people for land deals. ED officials had arrived at the Muvattupuzha jail two months ago and questioned him.

Out of 1,350 cases registered by the police, the Crime Branch is currently investigating 650 cases. Around 7,000 complaints have been received in total. The scam is estimated to be worth around Rs 400 crore. Ananthu collected Rs 60,000 each from 20,163 people and Rs 56,000 each from 4,025 people by promising to provide scooters at half price.

How the scam worked
The accused promised scooters worth Rs 1.2 lakh at Rs 60,000. They created WhatsApp groups under the name 'Seed Society' and influenced local ward members and others to attract people.

People were told that the scheme was funded through the Corporate Social Responsibility (CSR) funds of big companies. Items like laptops, sewing machines, and agricultural equipment were also offered at half price.