Thrissur: The Kuttanellur Service Cooperative Bank in Thrissur, run by CPI(M) is facing loan fraud allegations similar to Karuvannur Cooperative Bank scam. The bank got into trouble due to a complaint by a resort owner in Thrissur.
The resort owner, Sudhakaran, held a press conference where he accused the Kuttanellur bank of taking Rs 1 crore without his knowledge by using the mortgage he had given to get a Rs 60 lakh loan. According to him, the bank granted this money to fake addresses.
The supposed scam happened at the bank in 2016. But two years ago, CPI(M) apparently attempted to resolve the matter at the district committee office in the presence of district secretary MM. Varghese. They brought in the person who filed the complaint and the one accused of the scam to a meeting. During the meeting, they told the accused to give the money back within a week. They also warned him that if he didn’t return the money, he’d have to give up his Rs 1 crore stake in a business.
The person who filed the complaint said he didn’t get the money or his share from the accused.
Here’s what happened:
The resort owner Sudhakaran wanted to sell his resort to a person named Anil Menon. Anil Menon agreed to buy the resort after settling the liability of Rs 72.5 lakh Sudhakaran had in a private bank. Later, Anil Menon’s loan liability at the private bank was transferred to Kuttanellur Service Cooperative Bank at his request. According to the complaint, the bank gave a loan of Rs 60 lakhs using the resort as collateral.
The resort sale however didn’t happen, but Sudhakaran discovered that Rs 1 crore had been given to four fake addresses using the same loan documents. Sudhakaran accused the bank’s governing body of committing this fraud on behalf of Anil Menon. However, no action has been taken by the Cooperative Department or the police based on Sudhakaran’s complaint.
The Karuvannur Bank fraud case is not settled yet, and now another Cooperative Bank in Thrissur run by the CPI(M) is facing similar loan fraud allegations.
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