The Enforcement Directorate (ED) has no other evidence other than their custodial statements to prove their role in the sensational case, the court observed.
The agency is looking after the property papers as well as banking transactions of Khaira.
The ED now plans to seize the assets in Sivasankar’s name and those that he is believed to have acquired through the crime.
When Swapna was questioned at the jail on November 10, the statement she gave marked a turning point in the case.
Bineesh's ED custody period ends on Saturday. He is likely to be remanded in judicial custody if the ED does not seek to prolong the custody period.
The investigation was based on the information that Jassam had made large financial interventions using his friendship with Bineesh.
Raveendran's name figures at many places in the written statements given by Sivasankar as reply to ED's questions.
Under the provisions of the Prevention of Money Laundering Act, the usual punishment if convicted is imprisonment of up to seven years and a fine of up to Rs 5 lakh.
It is high time Kerala put legal systems in place to prevent such financial crimes.
Fake FB accounts in the name of DGP Rishiraj Singh and IG P Vijayan were created.