Thrissur: With Enforcement Directorate (ED) closing in on the Karuvannur Cooperative Bank scam, CPI leaders who were on the directorate board of the Cooperative Bank have begun blaming CPI(M) leaders who were also on the board.
A report said that two CPI representatives to the Director Board of the Bank, Sugathan and Lallithan, have voiced their accusations against other members belonging to CPI(M). They said that the cooperative bank was controlled by CPI(M) leader, CK Chandran. Huge loans were passed without the knowledge of the administration committee. Those decisions were latter added to the minutes book by CPI(M) representatives of the Director Board.
The report said that the CPI leaders lamented that they are made scapegoats in the crime to save senior leaders of CPI(M). They also revealed that they have not seen any loans above Rs.5 lakhs. The loan amounts that exceed Rs.5 lakhs were passed secretly. Only the president signed and passed these loans. It was then added to the minutes book.
The CPI had three representatives on the Director Board of the Karuvannur Cooperative Bank, which is under the scanner. The ED’s preliminary investigation found that the scam is worth Rs.300 crores. The investigation has reached top leaderships of the CPI(M). The investigation agency has already questioned CPI(M) leaders and former Minister, AC Moideen, for his alleged involvement in the scam.
The CPI leaders say that they were cheated by the CPI(M) members who were also on the board. They said that they did not have any knowledge about the scam. These CPI leaders have also received notice for revenue recovery worth Rs.8.5 crores.
Comments