Thiruvananthapuram: The Crime Branch launched a raid at Kandala Service Cooperative Bank, coinciding with an ongoing investigation by the Enforcement Directorate (ED). The raid, led by DySP Rex Bobby Arvin, commenced around 10 a.m. and is still in progress.
A team of around 10 officials arrived at Kandala Bank, initiating a comprehensive investigation. Statements from both employees and investors are being recorded, and a thorough verification of documents is underway.
The investigation is aimed at unravelling irregularities involving crores of rupees, resulting in financial losses for over 1,500 investors. The ED had previously interrogated the former bank president, N Bhasurangan, in connection with the case. Following this, Bhasurangan was expelled from the CPI party.
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