Ernakulam: CPI(M) state committee member MK Kannan’s involvement in the Karuvannur Co-operative Bank fraud case will be decided today as the time limit granted by Enforcement Directorate (ED) to MK Kannan to hand over property information in the case ends today. ED had instructed him to declare all self-acquired assets, income tax records and assets belonging to his family members. Despite being questioned twice earlier, MK Kannan has yet to submit the details. With this, it is indicated that ED will take strict action if Kannan does not cooperate with the investigation.
ED is probing into the potential involvement of MK Kannan in the money laundering case associated with the Karuvannur case. CPI(M) leader MK Kannan is the President of Thrissur Cooperative Bank and Vice President of Kerala Bank. Moreover, Satish Kumar, the main accused in the Karuvannur case, has done many transactions through the Thrissur Co-operative Bank, where MK Kannan is currently the president. Given this connection, the ED has expanded its investigation into Kannan regarding the black money transactions, suspecting a possible link to the Karuvannur scam.
In the recent raid on the bank, transaction documents worth crores were seized. Following this, Kannan was called in for questioning to provide relevant details. It was after this that the instruction to disclose property information was issued.
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