THRISSUR: Following the Karuvannur Cooperative Bank Scam, the Enforcement Directorate (ED) officers conduct raids in Thrissur and Kochi. In connection with the Karuvannur Cooperative Bank scam and money laundering, officers from the Enforcement Directorate (ED) have conducted raids in nine locations in Thrissur and Kochi. These ongoing ED raids include the Thrissur Service Cooperative Bank and Ayyanthole Service Co-operative Bank.
It has been reported that ED officials will soon carry out raids on the residences of document writers connected to the money laundering case and on the benami properties of the main accused, Satheesh Kumar, who is linked to the CPI(M).
It was discovered that Satheesh Kumar laundered 40 crore rupees of black money through the CPI(M)-ruled Ayyanthole Co-operative Bank over a period of 10 years. The ED found that he had deposited the money in five accounts under his own name and under various names of his family members, subsequently withdrawing it. Following this revelation, the ED initiated the raids today in Thrissur and Kochi.
CPI(M) leader M.K. Kannan is the president of the Thrissur Service Cooperative Bank. It has been reported that this raid is taking place in his presence.
Earlier, the ED had arrested Satheesh Kumar and Kiran PP in connection with their roles in the scam. It is noteworthy that the ED reported to the Special Prevention of Money Laundering Act (PMLA) court that Satheesh Kumar P., who was arrested in connection with the multi-crore Karuvannur Cooperative Bank scam, was a benami of a former MP, a sitting MLA, and high-ranking police officers.