Thrissur: The court has today ordered to confiscate the assets of all the five accused in the Karuvannur bank scam. The court’s verdict is based on the plea filed by the Crime Branch team, investigating the scam, requesting to seize the properties.
Assets of the bank manager and the second accused Biju Kareem, accountant Jils, commission agent Bijoy, cashier Reji K Anil will be seized. Crime Branch stated that, as per the court’s verdict, the properties that obtained by the accused during 2011 to 2021 will be seized.
The report on the huge loan scam came out in July 2021.
Many customers complained on the sceptic functioning of the bank and based on this, enquiry was conducted in which the charges were reportedly found to be true. It was alleged that the Marxist party-ruled bank was manipulated to conduct fraudulence by party workers as well as employees.