Ernakulam: The Enforcement Directorate (ED) is poised to make several high-profile arrests in connection with the Karuvannur Cooperative Bank fraud case. The investigation has been ongoing since August 2021, stemming from allegations raised by the Crime Branch. The accused individuals include former bank officials, intermediaries, and a former minister, all of whom are under the ED’s scrutiny.
The list of accused in the ED’s charge sheet is extensive, featuring prominent names such as the former secretary of the Karuvannur Cooperative Bank, Sunil Kumar, former branch manager Biju Karim, former senior accountant Jills, middleman Kiran, and commission agent Bijoy. Perhaps the most notable name on this list is former Minister A.C. Moideen.
The ED has already completed the first phase of questioning regarding the alleged Benami properties linked to A .C Moideen. The agency’s relentless pursuit of justice has culminated in its readiness to initiate arrests in the case.
Over the course of the investigation, the ED conducted extensive raids in August 2022. This led to the interrogation of key individuals believed to be involved in the fraud, including Sunil Kumar, Biju Karim, Kiran, gold merchant Anil Seth, and Satish Kumar, suspected to be benami for former minister A.C Moideen. Many of the individuals implicated in the case have affiliations with the CPI(M).
The interrogation process has yielded crucial information about additional individuals involved in the fraudulent activities associated with the Karuvannur Cooperative Bank. Some of these individuals are reported to have illegally acquired properties through the exploitation of their political influence within the party.
While the first phase of questioning for the primary accused has concluded, many of them are expected to be summoned again by the ED.
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