Kochi: The Customs department was in shock after inspecting the bank accounts of Faisal Fareed, third accused in the diplomatic baggage gold smuggling case. In his three accounts, Faisal had less than Rs 3,000.
One bank has initiated attachment procedures as he failed to repay a vehicle loan. Faisal needs to repay 37 lakhs to a cooperative bank where he had taken a loan of Rs 50 lakh.
The Customs department issued notices to three major banks in Thrissur with an aim to freeze his accounts. During a raid at Faisal Fareed’s house in Moonnupeedika, the officials had found that he had accounts in three banks at Kaipamangalam.
The accounts were not used for several years. Faisal had opened an NRI account in one of the banks several years ago. However, even that account did not have any transactions. Details of NRI accounts without transactions must be handed over to the Reserve Bank of India (RBI). The bank has initiated procedures in this regard. Customs demanded the banks to submit the KYC details of Faisal Fareed.
Two years ago, Faisal’s father Pareeth had taken loans of Rs 25 lakh from a cooperative bank in Mathilakam on two occasions. As these loans were repaid on time, the loan limit was increased to Rs 50 lakh. However, Rs 37 lakh remains to be paid.
Faisal Fareed had settled in Dubai as his father was a municipality worker there. His three brothers and their families are also settled in Dubai. Faisal, who visits his native regularly, had visited Kerala one-and-a-half years ago.
