ED raids Kerala bank, homes of accused in Rs 300 crore loan fraud
India Today
The action comes at a time when depositors have complained against the functioning of the CPIM-backed bank and demanded returns on their investments.
The Karuvannur Co-Operative Bank in Kerala’s Thrissur is being raided by the Enforcement Directorate (ED). The homes of all the accused in the Rs 300 crore bank scam were also raided by the agency. Nearly 75 officials of the financial probe agency are involved in the raids across several locations.
The action comes at a time when depositors have complained against the functioning of the CPIM-backed bank and demanded returns on their investments.
A woman, unable to get proper treatment, recently died. Her family alleged that the bank refused to give back their money.
The Congress, which is the Opposition in the state, urged Chief Minister Pinarayi Vijayan to hand over the investigation to the Central Bureau of Investigation, alleging no progress in the ongoing probe by the state agencies.
The loan scam was reported in July 2021, following which a case was registered against six bank officials.
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