Karuvannur bank scam: ED records arrest of CPM councillor P R Aravindakshan
Karuvannur bank fraud: The Kerala Police filed FIRs saying that the accused were embezzling public funds and that more than one loan had been granted to the same person against the bank loan cap while being secured by the same asset. Based on these FIRs, the ED initiated an investigation.
Thrissur: The Enforcement Directorate (ED) on Tuesday (Sep 26) arrested CPM leader and Vadakanchery Municipal Councilor PR Aravindakshan in the Karuvannur Bank fraud case. He is also a member of the Athani Local Committee and Chairman of the Vadakanchery Municipal Health Standing Committee. He is the first CPM leader to be arrested in connection with the Karuvannur case.
Aravindakshan is considered to be Kunnamkulam MLA AC Moideen's confidante. The authorities earlier questioned MK Kannan, a member of the party's state committee, and veteran CPM MLA AC Moideen on their alleged involvement in the fraud. Aravindakshan is reportedly a close friend of Satheesh Kumar, the main accused in the fraud case and was the intermediary in the money transactions.
The ED had yesterday interrogated MK Kannan, a member of the CPM state committee and president of Thrissur Cooperative Bank, in the case. MK Kannan said after questioning that there were no financial transactions with Satish Kumar and he was tortured mentally by the ED officials. MK Kannan was given a notice to appear again on Friday.
Aravindakshan had complained to the Ernakulam Central Police Station that ED officers had assaulted him while questioning. He claimed that a bamboo stick was used to beat him repeatedly and that he was forced to bend over and take blows to the neck.
The interrogation related to the Karuvannur bank fraud continues today at the Kochi ED office. NB Binu, Secretary of Thrissur Co-operative Bank, Jils, former secretary of Karuvannur Bank and Bindu, wife of main accused Satheesh Kumar, were summoned. The investigation in this regard stems from the fact that the defendant in the Karuvannur case engaged in transactions with the Thrissur Co-operative Bank. The cooperative banks in Ayanthol and Thrissur, according to the Enforcement Directorate, are connected to the discrepancies in Karuvannur Bank.
The Enforcement Directorate (ED) on August 22 conducted search operations in accordance with PMLA 2022 to investigate benamis and beneficiaris who swindled more than Rs 150 crore in bank funds from Karuvannur Service Cooperative Bank Ltd. The searches and raids were conducted at 5 locations in Kerala. The Kerala Police filed FIRs saying that the accused were embezzling public funds and that more than one loan had been granted to the same person against the bank loan cap while being secured by the same asset. Based on these FIRs, the ED initiated an investigation.