Karuvannur bank case: CPI(M) Thrissur district secretary appears before ED

M.M. Varghese, CPI(M) district secretary, summoned by ED in connection with Karuvannur Service Cooperative Bank loan scam. ED had earlier arrested K.P. Aravindakshan, P. Satheeshkumar and others in the case. Special Court allowed ED to provide soft copies of case documents to accused. Case booked under Prevention of Money Laundering Act.

M.M. Varghese, the Thrissur district secretary of the CPI(M), appeared before the Directorate of Enforcement (ED) on November 24, 2023 (Friday). The agency had summoned him in connection with the Karuvannur Service Cooperative Bank loan scam.

The ED had earlier summoned CPI(M) leader A.C. Moideen and M.K. Kannan in connection with the case and arrested K.P. Aravindakshan, a party councillor in Wadakkanchery municipality. It had also arrested P. Satheeshkumar, a private money lender, and a few others in connection with the alleged illegal loan scam.

The case was booked against the accused under the provisions of the Prevention of Money Laundering Act.

Incidentally, the Special Court considering the Karuvannur case had on November 23 allowed the investigation agency to provide the soft copies of the case documents to the accused. The ED had sought permission to furnish the soft copies of the case documents, including statements of the accused and witnesses, to the 55 accused in the case.