ED to quiz senior officials, netas in Kerala cooperative bank scam

ERNAKULAM/THRISSUR | Updated: 19 September, 2023 12:02 pm IST

ERNAKULAM/THRISSUR: The Enforcement Directorate (ED) conducted raids on various cooperative banks in Kerala on Tuesday in connection with the Karuvannoor service cooperative bank money laundering case. The agency is set to question political leaders of the CPI (M) who are associated with the banks, after statements emerged from those arrested in connection with the case.

According to top ED sources, MK Kannan, the vice president of the Kerala Bank and a member of the Ayyanthol service cooperative bank, will be interrogated on Wednesday. This comes a week after former minister and senior CPI(M) leader AC Moidheen was questioned by the ED in connection with the cooperative bank scam in Karuvannoor.

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Moidheen informed the ED that he will not be appearing for the questioning as he had to attend special classes for legislative assembly members. Meanwhile, the agency is planning to question more individuals associated with the cooperative banks in connection with the money laundering.

The ED has also revealed that Satheesh Kumar, the main accused in the Karuvannoor cooperative bank case, laundered money through other cooperative banks in the district. According to top ED sources, Kumar deposited unaccounted money worth Rs 40 crores in the Ayyanthol service cooperative bank. The ED has frozen five accounts of Kumar and his family in the bank after finding irregularities.

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Meanwhile, CPI(M) state secretary MV Govindan Master has refuted the allegations made by the ED against the board members of the cooperative banks in Thrissur who were members of the CPI(M). The party secretary stated that the ED is acting as a political agent of the BJP-led government at the center.

“The current raids are just part of a political agenda to attack the CPI(M) in the state. Even Rahul Gandhi and Sonia Gandhi were questioned by the ED. It’s true that there are irregularities in some of the banks and the state agencies are already probing the matter,” said Master.

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Meanwhile, Moidheen stated at a public event that he believes in the internal probe conducted by the party and not by an external agency as he trusts his “party” more than anything.

More cooperative banks are under the radar of the agencies and the current raids will be extended to other districts in the coming days.

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