8 Locations Linked to Mauritius Honorary Consul Raided Over Alleged Fraud

India’s Enforcement Directorate (ED) conducted raids at eight locations connected to Ravi Raman, an Honorary Counsul to Mauritius and promoter of the Chennai-based R R Group.

The investigation is linked to an alleged fraud involving foreign funds.

The raids were carried out on December 28 under the provisions of the Prevention of Money Laundering Act (PMLA).

Raman and his wife, Shobhana Ravi, are facing a money laundering case based on a complaint by the Chennai Police Central Crime Branch (CCB) for cheating, forgery, and criminal conspiracy in relation to swindling foreign funds and investments worth IRs 117 crore (Rs586 million).

The ED alleges that Raman diverted funds received from the Old Lane Group, which were intended for the development of a tech park in Ambattur, through his Singapore-based entity.

During the searches, the ED seized IRs 64 lakh (Rs3.2million) in unaccounted cash, property deeds, and documents worth over IRs 850 crore (Rs4.4billion).

The investigation also involves examining foreign investments received by the R R Group from overseas entities.

Source: Indian Express