The Enforcement Directorate (ED) has imposed a Rs 908 crore penalty on DMK MP S Jagathrakshakan and his family for violations under the Foreign Exchange Management Act (FEMA). Additionally, assets worth Rs 89 crore have been seized. The investigation revealed that Jagathrakshakan, a businessman from Tamil Nadu, invested Rs 42 crore into a shell company in Singapore in 2017 and acquired Singapore Foreign Shares, which were subsequently transferred among family members. The ED's actions are part of a broader scrutiny involving multiple raids on Jagathrakshakan's properties and businesses.