KOCHI: The Kochi unit of the Enforcement Directorate (ED) is preparing for an investigation into the half-price fraud. This is stated in a report submitted by ED after conducting a preliminary investigation.

This is happening where a permission has been given to register an Enforcement Case Information Report (ECIR) regarding this case. The ED suspects that money laundering may have taken place in the fraud worth crores. This is what is being investigated.

The ED had collected information from the cases registered by the police in the past few days. The ED investigation will be based on the fraud charge filed by the police. The police found that Ananthukrishnan's fraud was in the money chain model. This paved the way for the ED's arrival.

Although the main accused was arrested, the extent of the fraud is still not clear. The complainants had demanded an ED investigation to find out how the collected money was spent. The police had also found that transactions worth more than Rs 450 crore were made through Ananthukrishnan's 19 bank accounts.

Ananthu purchased land in six places in Idukki and Kottayam using the money. As more complaints are being received every day, 34 cases have been handed over to the Crime Branch, but the investigation has not begun.