KOCHI: The Enforcement Directorate (ED) seized around ten crore rupees, foreign currencies, gold, jewelery and electronic equipment in a raid in Kerala done in relation to hawala transactions of Rs.10,000 crores. Around 100 mobile phones used by hawala dealers were also seized. The raid at 15 centers started late on Monday and continued late last night.

About 10 crore rupees were seized in raids conducted in Kochi and Kottayam. Although there are indications that some hawala money disbursing carriers have been detained, the ED has not confirmed it.

Although the raids were conducted in districts from Kollam to Malappuram, it is reported that more transactions are in Kottayam and Ernakulam districts. ED has also received information that more than 20 hawala gangs are operating in Kerala. Efforts have been started to trace the clients and links by checking the mobile phones believed to have been used for hawala transactions.

Huge bundles of currency notes were seized from the Ernakulam Penta Menaka shopping center and a few establishments on Broadway, which the investigation team says is a hub for hawala transactions worth crores of rupees daily. A detailed raid was conducted at a mobile shop in Penta Menaka and a shop selling electronic goods near Sridhar Theatre. The raid was centered on jewellers, foreign exchange centers and clothing establishments in Kottayam district. A political leader's relative's establishment in Ettumanoor was also inspected.

Officials from outside

The raid was under the Foreign Exchange Management Act (FEMA). About 150 personnel from outside Kerala are carrying out the raid under the protection of the central forces. The raid was conducted on the basis of the information received in the investigation conducted with the help of intelligence agencies that money was reaching Kerala through large-scale hawala transactions, including from the Gulf.

Foreign exchanges are important

The raid focused on foreign currency exchange firms, small clothing businesses, mobile accessories, wholesalers, travel agencies, electronic shops, etc. Checks were conducted at the foreign currency exchange center at Erattupetta in Kottayam, at Ettumanoor and at the establishment of a political leader's relative at Changanassery and Chingavanam.