THIRUVANANTHAPURAM: Enforcement Directorate (ED) has affirmed that the investigation related to money laundering in the Karuvannur Cooperative bank scam will be extended to top-level political leaders. ED made this statement following the arrest of PR Aravindakshan, a CPI(M) leader and a close aide of former Minister AC Moideen.
Aravindakshan was arrested from his residence in Wadakkanchery by ED officials on Tuesday, September 26th, in the afternoon and was subsequently taken to Kochi. ED also arrested CK Jilse, the former accountant of Karuvannur Service Cooperative Bank.
ED informed the court that Aravindakshan has connections with several senior political leaders, some of whom involved in this scam. The remand report mentioned that a detailed investigation will be conducted to determine which leaders are implicated in the scam.
Meanwhile, the court will consider the custody application for Aravindakshan and Jilse today. ED has requested a three-day custody for remand.
ED discovered that Aravindakshan had made a fixed deposit of Rs 50 lakh in two accounts at Karuvannur Cooperative Bank. However, Aravindakshan could not provide a satisfactory explanation regarding the source of the funds. Consequently, ED informed the court that the money found in the accounts is connected to money laundering. The court will also consider the bail application submitted by the accused today.
It has also come to light that Aravindakshan has a connection with the prime accused in the case, Sathish Kumar. ED reported that Sathish Kumar provided the money to him, which he obtained through a benami loan from Karuvannur Bank. According to a witness statement, a substantial amount was transferred to Aravindakshan through the accounts of Sathish Kumar and his brother Sreejith. Former manager Biju Karim provided a statement indicating that out of the 24 crores that Kiran looted, 25 lakhs were given to Aravindakshan.
As per the remand report, between 2015 and 2017, transactions involving crores of rupees were conducted through the account. Additionally, ED collected evidence from Sathish Kumar’s residence and mobile phone that reveal the connection between Aravindakshan and Sathish Kumar.
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