KOCHI: The Enforcement Directorate (ED) has registered a case against six persons associated with the CPM-run Karuvannur Cooperative Bank in Thrissur where fund manipulation of over `300 crore was detected. The ED has registered Enforcement Case Information Report (ECIR) under various Sections of the Prevention of Money Laundering Act (PMLA).
The case has been registered against the bank’s former secretary T R Sunil Kumar, former manager Biju Kareem, Raji Anil Kumar, who was the accountant at the supermarket under the bank, mediator Kiran, bank’s commission agent Bijoy A K and senior accountant C K Giles. “We had conducted a preliminary enquiry(PE) based on the FIR registered by the Kerala Police and found that the case merits a probe under the PMLA. The Section included in Kerala Police FIR is predicate offences that attract ED investigation,” an official said.
The ED will summon the accused persons for detailed interrogation from next week. “We will start serving notices on the accused persons and witnesses, directing them to appear for interrogation. The Crime Branch after taking over the probe from the police is yet to arrest the accused persons. Our team had visited the bank and seized some documents as part of the preliminary probe. We have also identified witnesses in the case,” an official said.
Though, Thrissur comes under the jurisdiction of ED Kozhikode unit, considering the gravity of the case a team under the ED Joint Director in Kochi will probe the case. The ECIR will be submitted before the court concerned soon.
The bank was involved in fund misappropriation by sanctioning new loans after pledging the documents of certain people without their consent. In a Rs 100 crore loan availed under the name of 46 people, the entire amount was credited to one account held by accused Kiran. The bank — established in 1921 — has had CPM-backed administrative committees for 40 years. Four bank staffers, including the secretary, were suspended after the Irinjalakuda police registered a case.