Thrissur: The Enforcement Directorate (ED) has confiscated properties of CPI(M) leader and MLA, AC Moideen, after it was found that he had direct involvement in the Karuvannur Service Cooperative Bank scam worth Rs.150 crores.
The ED confiscated benami properties worth Rs.15 crores connected to Moideen, including 36 properties and other assets.
The bank accounts of AC Moideen had been frozen earlier. In addition, bank accounts of another three individuals, who are believed to be benamis of Modieen had also been frozen. The ED froze the accounts after 22-hour continuous examination by the agency. The three persons have been summoned by the ED today.
Two days ago the ED began a surprise raid at MLA MC Moideen’s house and three others in the Karuvannur bank scam. The raid concluded early morning today at 5 am. There were allegations earlier itself that the communist leader was involved in the multi-crore bank scam.
AC Moideen had said that the ED’s aim was not to make him an accused but to keep him at the point of suspicion and continue to hound him. He said that the raid was based on a person’s statement that he had helped a person, out of the way, to get loan from Karuvannur bank. The MLA also said that he would cooperate with any investigation and that he has nothing to fear about.
According to a report, the ED said that the raids were conducted to probe the benamis and beneficiaries who siphoned off bank funds of more than Rs.150 crores from Karuvannur Service Cooperative Bank Limited.
AC Moideen is the MLA representing the Kunnamkulam constituency.
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