THIRUVANANTHAPURAM: In the wake of the Karuvannur cooperative bank scam coming to light, the Enforcement Directorate (ED) is planning to investigate more cooperative bank scam cases in Kerala. The ED will file cases related to these scams following a preliminary investigation.
The ED initiates registration of cases after conducting an initial inquiry. These inquiries are focused on scam cases for which FIRs have already been registered by the police or the crime branch.
As of now, the ED has received 188 complaints related to bank scams in Kerala. The ED conducts preliminary investigations on these complaints before deciding on further actions. The majority of complaints received by the ED are against cooperative banks under the governance of the CPI(M).
The ED has stated that they have received several complaints about various cooperative banks, all reporting similar scam patterns as observed in the Karuvannur Cooperative Scam. Additionally, following the exposure of the Karuvannur Cooperative Bank scam, many depositors from cooperative banks have come forward, and some have realized that they too have been victims of fraud.
In the aftermath of the Karuvannur scam, the ED received a substantial number of complaints from individuals who lost money in loan scams. Some victims were initially reluctant to report their grievances. The ED intends to register more cases in the coming days.
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