The Enforcement Directorate is leaving no stone unturned to nab the culprits who are involved in the multi-crore cooperative bank fraud. The ED has undertaken raids at Thrissur and Kochi. Raids and scrutiny of the documents is in progress with regard to the fraud. ED raids take place in the houses of the alleged benames (proxies) of the prime accused Satheeshkumar and the document writers who are allegedly linked with the money laundering.
Reports suggest that ED has found that Satheeshkumar was involved in money laundering of Rs 40 crore in the CPM-ruled Ayyanthole Cooperative Bank; ED has found that Satheesh deposited money in five accounts in the bank, during the last 10 years, in the name of himself and in the names of family members and later on the money were withdrawn. ED raids are carried out consequently. Satheeshkumar was arrested in connection with the alleged money laundering, through Karuvannur Cooperative Bank, by handling crores of monies from foreign accounts which are having alleged terror links.
Meanwhile reports of Thrissur suggest, CPM goons attacked the media men while reporting the details of the ED raids in Ayyanthole Cooperative Bank. Today’s ED raids were carried out in the banks where Satheeshkumar allegedly carried out fraudulent activities worth several crores during the last 10 years.
Meanwhile Mahesh, CPM man and former board member of the Karuvannur Cooperative Bank, alleged that the fraud had been operated with the knowledge of the CPM leaders; he did not expect it from the party he believed in and has been working for. He said, himself and his family members are on the verge of suicide as he is trapped in the case.
Earlier there were allegations that the complaint filed by the board members before the CPM leadership and the police was sabotaged for protecting a prominent CPM leader’s son hence it fell on deaf ears. Eleven bank board members had collectively submitted a four page complaint before CPM Thrissur district committee. Then the party leadership allegedly summoned couple of “favorite” members to the CPM Area Committee office and pressed for the withdrawal of the complaint. They agreed and the complaint was withdrawn on July 13. But, they got a shock the very next day: Bank secretary filed a complaint against the same eleven members and police registered the case against them and seven others. The complainants became the accused overnight. Small fishes were bagged to protect big ones.
It is reported that MK Kannan, the vice president of Kerala Bank is the president of the Thrissur Cooperative Bank. Kerala Bank is the CPM-controlled banking system. Naturally he is likely to face actions shortly.
There are also reports that CPM leader and former MP (LS) P.K. Biju is under the ED scanner in this regard.
It is high time the union government conducted an efficient scrutiny of the transactions and activities of the cooperative banks in the state, especially in the wake of the money laundering which are always having terror links. Terror activities and money laundering are two sides of the same coin.