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ED arrests CPM leader, associate in Kerala cooperative bank scam

ED arrests CPI(M) leader and Ex-Bank accountant in Karuvannur service cooperative bank scam, LDF faces setback

ERNAKULAM: In a major setback to the ruling LDF, the Enforcement Directorate (ED) has arrested a CPI(M) leader PR Aravindakshan and former bank accountant CK Jilse in the Karuvannur Service Cooperative Bank scam in Thrissur district.

The scam pertains to illegal transactions worth Rs 400 crores. As per the ED, Aravindakshan was associated with the main accused and money lender Satheeskumar who took loans from Karuvannur bank using benami borrowers. It was Aravindakshan who intermediated for Satheeshkumar to acquire documents of borrowers mortgaged at Karuvannur Bank for receiving the loan.

ALSO READ: ED summons ex-Kerala minister Moideen in cooperative bank scam

In the detailed report filed before the PMLA special court in Kochi earlier, the ED had stated that Satheeshkumar was aided by Aravindakshan and another CPM Wadakkanchery councillor named Madhu in the money lending business worth around Rs 500 crore.

Aravindakshan is also an aide to former minister AC Moidheen who is already being questioned by the investigation agencies for money laundering charges.

Two hours after the arrest, the CPI(M) state secretariat came up with a press note stating that the central government is trying to destroy the cooperative sector which is the backbone of the state economy.

“The central government policies are made to support mega corporate firms. They wanted to destroy the cooperative sector which is equally stronger to it and hence wanted to eliminate the sector. The ED has physically assaulted a CPI(M) activist earlier and has threatened him to give a false statement,” as per CPI(M).

ALSO READ: ED finds CPM MLA’s key role in ₹150-Cr cooperative bank scam

“Aravindakshan who had exposed it has now been targeted. A police complaint has already been registered on this and hence it is very clear the real motives of the ED”, said the press note by the CPI(M) state secretariat.

The CPI(M) and the state government is on its path to strengthen the cooperative sector. But the central agencies have decided to destroy the sector and are now working accordingly. We have decided to fight against such moves both politically and legally. We appeal to the public to provide their support to help support the cooperative sector, the CPI(M) state committee report said.

The agencies have widened the probe where it is suspected that money laundering and corruption is prevalent in 45 other banks across the state.

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