Thrissur: In a significant development, former Cooperation Department Minister A.C. Moideen and the CPI (M) find themselves ensnared in the ongoing investigation into the Karuvannur Bank fraud case. The investigation has taken a political turn as three individuals suspected to be Moideen’s benami associates are scheduled to undergo questioning at the Kochi Enforcement Directorate (ED) office today and tomorrow. The individuals in question have been identified as P.P Kiran , C. M. Rahim , and Shiju MK.
The ED’s investigation has brought attention to the financial irregularities surrounding the Karuvannur Bank fraud case, with allegations of Moideen’s involvement in questionable transactions. While the summons has been issued to Moideen, it remains uncertain whether he will comply and appear for questioning tomorrow.
The CPI (M), which Moideen is associated with, seems to be adopting a direct political approach to manage the escalating situation. As the scrutiny intensifies, the party is facing mounting pressure to address the matter and respond effectively.
Earlier, the ED conducted a raid at A.C. Moideen’s residence in Vadakanchery, as well as at the homes and offices of the suspected Benami associates. During the raids, the ED seized various financial transaction documents that allegedly lacked proper documentation, raising further suspicions about the financial dealings under investigation.
Furthermore, a sum of 28 lakh INR deposited in bank accounts under the names of A.C. Moideen and his wife has been frozen by the ED. The investigation has also led to the seizure of properties estimated to be worth Rs 15 crore, all linked to Moideen. These developments have intensified the spotlight on the former minister and the party, compelling them to address the allegations with transparency and urgency.