Idukki: A significant financial fraud amounting to crores of rupees has been unearthed at the Nedumkandam Dealers Co-operative Bank. The Vigilance Department has filed a case against 13 individuals, including former DCC president Ibrahim Kutty Kallar, in connection with these irregularities. The investigation has revealed financial irregularities amounting to Rs. 4.5 crore within the bank. Notably, the bank’s president, Tommy Joseph, DCC General Secretary Shaji Painath, and other prominent figures are also among the accused.
The irregularities came to light when investors attempted to withdraw their funds from the bank. The Nedumkandam Dealers Co-operative Bank, located in Idukki, has a long-standing affiliation with the Congress party. Numerous investors have come forward, alleging that senior Congress leaders were aware of and possibly involved in these fraudulent activities. Many individuals claim to have lost their hard-earned money, intended for house construction and medical treatment.
In response to these allegations, the bank’s governing body has taken action by suspending the former bank secretary, who is currently on the run. Furthermore, they have lodged a formal complaint with the police and the cooperation department to address the grave irregularities that have transpired.
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