Kochi | The Enforcement Directorate on Wednesday conducted searches in Kerala and Tamil Nadu in connection with a money laundering investigation against a cooperative society and its promoter, officials said.

The probe involves R Premkumar, founding member and de facto Chairman and Managing Director of the Bharath Lajhna Multi State Co-operative Society (BLM), and some others.

A total of 11 premises in the two states were covered by the Kochi office of the central agency under the Prevention of Money Laundering Act (PMLA), they said.

It is alleged that Premkumar misused his influence to divert crores of rupees of the Society, collected from public depositors, to the accounts of his wife and relatives for personal use.

The ED claimed he pledged the Society's Ragam Theatre without the money reaching the Society and acquired about 500 acres at Kanchipuram in his wife's name