In July this year,  ₹ 55 crores landed in an account of the overseas branch of State Bank of India at Kochi Harbour from Bulgaria. The account holder, Jose George, a native of Elamakkara in Kochi, withdrew ₹ 29.5 crores in 15 days and it reached the accounts of his friends and relatives. 

 

Suspicious over the transactions, the bank officials demanded source of the income. And Jose George allegedly informed the bank that the money was credited to his account in return for exporting sunflower oil and sugar to a Bulgarian company. 

 

The Customs officials, however, could not trace any export linked to the money transfer. The case was referred to central enforcement authorities. Though they contacted the Bulgarian company, it had no complaints on for making payment for a consignment that they never received.' 

 

 Kochi Police has registered a FIR against Jose George in connection with the alleged money laundering.