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Ezhava Yuvajana Samajam loses Rs 7.5 lakh deposited in 2017

As more fraudulent activities are being exposed in the Karuvannur Cooperative Bank scam, customers who availed of loans and deposited money in the bank are in a quandary.

Published: 25th July 2021 06:22 AM  |   Last Updated: 25th July 2021 06:22 AM   |  A+A-

cash, money, investment

Representational Illustration (File| Express)

Express News Service

THRISSUR: As more fraudulent activities are being exposed in the Karuvannur Cooperative Bank scam, customers who availed of loans and deposited money in the bank are in a quandary. Future seems to be uncertain for many investors as the cooperative institution breached the trust they reposed on it.

For CV Surendran, who is the secretary of Sree Narayana Ezhava Yuvajana Samajam, the dream of an office building remains a distant one. The organisation had collected an amount of Rs 7.5 lakh for the construction of the office.

“We deposited the fund in Karuvannur Cooperative Bank in 2017. We still have the original certificate of the same with us. When we approached the bank to get the fund back, they said it was withdrawn by someone. Though we asked who withdrew the amount, the authorities did not reveal the name,” alleged Surendran.

He said the organisation members even met the bank secretary who also hesitated to reveal details about fund withdrawal. 

Later, a complaint was lodged with the board of directors, but no action was taken. The organisation lodged a complaint with Irinjalakkuda police to get back the fund.

“As the whole scam is under probe, we are hopeful that there will be some settlement and we will get back our money,” he added.



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