The bank committee members of Karuvannur Cooperative Bank, who are now the accused, allegedly blame that it was due to the “interferences” by the leaders which resulted in the probe being unfair in a more than rupees hundred crore scam. Ultimately, the people who were supposed to be the complainants are made the accused. The related documents have been reportedly released in connection with the raids in the house of A.C. Moideen, CPM state committee member and former cooperative minister, and the consequent interrogation.
According to the reports, eleven cooperative bank committee members collectively submitted a four-page complaint in June 2021 before the CPM district committee. During those days, the son of a prominent CPM district leader had got the agency of Government of Kerala-controlled Rubco (Kerala State Rubber Co-operative Limited). He used to sell RUBCO products to the bank against the payment of a commission of 15%.
According to the usual practice, the agent gets the commission when the bank gives total payment to RUBCO. But, in this particular case, the ‘leader’s son’ allegedly got commission as soon as the goods were delivered. It is reported, if CPM district leadership had considered the bank committee members’ complaint seriously, the ‘leader’s son’s fraud also would have been revealed, hence the complaint was sabotaged.
Since the CPM district party leadership did not take action in the wake of the bank committee members’ complaint, they (bank committee members) filed a complaint before the Police in Irinjalakkuda, Thrissur district. Report suggests, despite the pressure of the party district leadership to withdraw the Police complaint, the bank committee members refused to comply. Then the leadership allegedly summoned couple of “loyal” bank committee members to the CPM Area Committee Office and pressed for the withdrawal of the complaint. At last, they gave in.
The members withdrew the complaint on July 13. On July 14, Bank Secretary filed a complaint against the same eleven bank committee members and police registered a case against them and other seven others. Accordingly, those who were supposed to be the complainants turned the accused. Now, they all are facing the confiscation threat worth Rs 8 crore each.
This is a serious account of the fraud if the allegations are true. It looks like a conspiracy to protect big fishes at the cost of small fishes. The receipt the bank committee members got from the police station against the complaint they filed has been carried by the media.
ED had carried out a raid in A C Moideen MLA’s residence on August 22. There were raids in the Thrissur residences of Kannur native Velappaya Satheesh and the house of jeweller Anil Sait at Cherppu, Thrissur district, also. Reports had suggested that the bank passbooks of Moideen were not in his house during the raid. No doubt, he will have to clarify the assets and deposits of his close relations.
On August 23, ED froze the bank accounts of Moideen. Even though ED had summoned Moideen couple of times, still he has not made it. Now, he has been asked to be present in the ED officers in Kochi on September 4, Monday. People wait to hear after Moideen undergoes interrogation.
