ED Attaches Assets Worth ₹20.4 Crore in Thunchath Jewellers PMLA Case.

Headnote:

The Enforcement Directorate has provisionally attached immovable assets worth ₹20.4 crore belonging to M/s Thunchath Jewellers and others in connection with a large-scale cheating and money laundering case. The attachment follows investigations revealing that the accused collected funds from the public under fraudulent investment schemes and diverted them through multiple companies for personal gain.

Background:

• The case originates from around 70 FIRs lodged by investors against M/s Accomplish Marketing Pvt. Ltd., which operated Thunchath Jewellers in Tirur, Kerala.

• The firm, established in 2012, launched monthly investment schemes and collected significant sums from the public.

• M. Jayachandran, the Managing Director, along with other directors, allegedly siphoned off the investments and absconded in 2017.

• ED’s investigation revealed that the proceeds of crime were laundered through newly incorporated entities—M/s Thunchath Gold LLP, M/s Accomplish Gold Pvt. Ltd., Thunchath Tour & Travels Pvt. Ltd., and M/s Thunchath Chits Pvt. Ltd.

• The funds were used to acquire immovable properties in Kerala and Karnataka in the names of the accused and their family members.

ED Findings:

• Statements of complainants and accused recorded under PMLA confirmed the diversion of investor funds.

• The accused’s network of shell entities was established with the mala fide intention to conceal and layer the proceeds of crime.

• Attached assets include various residential and commercial properties linked to the accused.

Current Status:

Further investigation is ongoing to trace additional proceeds of crime and identify other beneficiaries involved in the fraudulent investment schemes.

Legal Provision Involved:

• Section 5, Prevention of Money Laundering Act, 2002 – Provisional attachment of property involved in money laundering.

Date: 07 November 2025

Agency: Directorate of Enforcement (ED), Kozhikode Sub-Zonal Office

Law Invoked: Prevention of Money Laundering Act (PMLA), 2002