KOCHI: The Enforcement Directorate (ED) probing the money laundering aspect of the Karuvannur Service Cooperative Bank scam said 51 loans worth over Rs 24 crore were granted to just one person.
The ED made the submission in the PMLA Special court in Kochi on Tuesday, while it produced Satheeshkumar P, 56, of Kolazhy and Kiran P P, 33, of Perinjanam, both in Thrissur in court. The court granted their custody to the agency till Friday.
The ED informed the court that Kiran was granted the bank’s membership against its bye-laws and received a total of 51 loans, issued in his name and that of others, amounting to Rs 24.56 crore by illegally using other people’s mortgage documents.
The total outstanding amount with interest comes to Rs 48.57 crore, as per the ED. The agency said the loan amount was transferred to the accounts of various persons as well as Kiran’s firms Platinum Laboratories and Catrix Technologies. Though Kiran told ED that the amount was used to repay his loan with South Indian Bank and invested in his firms, he failed to submit details of the relevant transactions.
Meanwhile, ED has issued a fresh notice to former minister and CPM MLA A C Moideen in connection with the money laundering aspect of the bank scam. He is required to appear for interrogation on September 11. This marks the third notice served to Moideen, as he had previously skipped two interrogation sessions.