Thrissur: The Enforcement Directorate (ED) has revealed potential ties between the Karuvannur Cooperative Bank scam and hawala networks. ED in its remand report asserts that the primary accused, P. Satheesh Kumar, maintained connections with hawala gangs. Satheesh Kumar, the first accused in the case, reportedly engaged hawala gangs to facilitate the laundering of black money. The ED has uncovered the involvement of hawala dealers in the money laundering activities linked to Satheesh Kumar, who managed the finances of affluent individuals. According to the remand report, the ED has obtained comprehensive account information related to Satheesh Kumar.
The ED has compiled data concerning the funds deposited in the accounts of two Malayalis residing abroad. These funds were channelled through Satheesh Kumar into the accounts of Jayarajan and P. Mukundan. The investigation into the destination of funds syphoned from the Karuvannur bank has unearthed financial transactions involving Jayarajan and P. Mukundan. The ongoing investigation is also focused on identifying additional accounts associated with financial dealings conducted by Satheesh Kumar.
Madhu Ambalapuram, a Vadakkencherry municipal councilor and leader of the CPI (M), who was scheduled for questioning by the ED today, failed to appear. Instead, Madhu travelled to Kochi to meet with lawyers. On the other hand, Satheesh Kumar’s brother, P. Sreejith, was present before the ED for questioning today. Satheesh Kumar had also made investments in the name of Sreejith, and the ED has reportedly acquired substantial evidence linking Sreejith to Satheesh Kumar’s financial activities. Sanal Kumar, a chartered accountant, was also subjected to questioning by the ED at their Kochi office.
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