Chennai: The Enforcement Directorate (ED) conducted a raid at the Chennai-based financial institution of businessman and L2: Empuraan producer Gokulam Gopalan. The action was taken following allegations of violations under the Foreign Exchange Management Act (FEMA) related to chit fund transactions.
Two years ago, Gokulam Gopalan was questioned by the ED in connection with alleged money laundering activities. The interrogation took place at the ED office in Kochi as part of a broader investigation into chit fund fraud.
According to ED sources, complaints regarding unauthorized chit fund transactions prompted the latest raid. Gokulam Chits, which operates over 400 branches across India, is now under scrutiny for potential financial irregularities.
