Thrissur: The Enforcement Directorate (ED) has launched an investigation into the Thumboor Service Cooperative Bank fraud, exposing an irregularity of Rs 3.5 crore. The bank’s management committee is accused of facilitating the fraud by using fake Aadhaar as collateral.
ED specifically points to the tenure of former president and Congress leader Johny Kachappally as the period during which the bank fraud occurred. The complaint, lodged by Anwar, exposed the fraudulent transactions, echoing the Karuvannur model fraud. Seven individuals secured loans from the bank, presenting the same land as collateral, resulting in a sanctioned loan amount of Rs 1 crore 70 lakh. The land was mortgaged without the knowledge of the rightful owner, facilitated by the complicity of the bank’s governing body.
Upon discovering that his land had been mortgaged without consent, the landowner, Reji, approached the Kodakara Magistrate Court. The ED investigation has unveiled numerous similar irregularities within the bank. Currently, the ED’s intensified probe aligns with the Aloor police’s case against seven accused. Former governing body members may also face interrogation in connection with the unfolding scandal.
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