BLM Fraud Investigation Reveals Financial Irregularities

The Kerala Police Crime Branch is investigating the Bharath Lajhna Multi-State Housing Co-operative Society (BLM) over allegations of financial mismanagement and cheating. The investigation covers several areas, including Kerala, Tamil Nadu and Puducherry.

On Thursday, October 29, R. Premkumar, chairman of BLM, was arrested in Chennai by the Economic Offences Wing of the Kozhikode Crime Branch.

However, Premkumar was granted bail on Friday, October 30, by the Kozhikode Judicial First Class Magistrate Court. The court reportedly granted bail due to procedural issues and concerns about his health.

Despite his release, the investigation into the housing society and its financial activities is continuing. Police are examining the allegations to understand how the suspected financial irregularities took place.

In a separate development, another cheating case has been registered against Premkumar. He is accused of allegedly cheating a woman out of ₹1.6 crore in Kothamangalam.

The latest case has added to the ongoing investigation into the society. Police are continuing their inquiry into the allegations and related financial transactions.