Kerala Bank Scam: Crime Branch arrests four accused from a flat in Thrissur

The Kerala Crime Branch who were investigating the Karuvannur Service Cooperative Bank scam has now arrested four main accused in the case. The accused were arrested from a flat at Ayyanthole in Thrissur district, Kerala.

Crime Branch arrest in Karuvannur Service Cooperative Bank scam

After a thorough investigation in the bank fraud case, the crime branch team raided the houses of all the accused concerning the case and later arrested them. The accused were former employees of the Cooperative Bank - Former Bank Manager Biju Karim, Former Secretary of the Bank Sunil Kumar, Accountant CK Jilse and Commission Agent Bijoy. It is also said that several fake loan documents were seized from the houses of the accused including Benami deals worth crores. 

The bank is a cooperative run by the political party CPI(M) and all the accused are said to have connections with CPM. However, several CPI(M) leaders including Kerala Chief Minister Pinarayi Vijayan have denied any connections of the party with the scam.

Meanwhile, BJP and Congress have been demanding a probe by central investigation agencies alleging that more is yet to be known about the fraud.

Speaking to ANI, Kerala Opposition leader VD Satheesan has blamed the CPI(M)'s Thrissur district and state committee for knowing about the fraud.

He said, "They purposefully try to hide it and did not report to the police. This is one of the biggest scams reported in the state and CPI(M) is trying to protect the culprits. A thorough probe by central investigation agencies is required to unearth the truth."

BJP State President K Surendran has alleged that the fraud amount is more than 300 crore.

He said, "The CPI(M) party leaders are behind the scam especially former cooperative minister AC Moideen and party Secretary A Vijayaraghavan. The money was spent for election purposes too."

Karuvannur Service Cooperative Bank scam

The Karuvannur Service Cooperative Bank case is a 100 crore scam in which multiple loans of huge amounts were sanctioned against property pledged by customers without their knowledge. The scam has resulted in a big political controversy between CPI(M) and other opposition parties in the state.

(Image Source: PTI)