Ernakulam: M. M. Varghese, a member of the CP (I)M state secretariat and district secretary of Thrissur, appeared before the Enforcement Directorate (ED) today for questioning in relation to the Karuvannur bank money laundering case. He presented himself at the ED office in Kochi, as summoned earlier by the investigative agency.
The ED had also interrogated former minister and MLA AC Moideen, as well as Kerala Bank vice president MK Kannan, in connection with the alleged black money transactions at Karuvannur Bank. The 15th accused in the case, CP (I)M regional leader and Vadakkencherry municipal councilor PR Aravindakshan, is currently in jail.
The ED’s investigations have implicated a total of 50 individuals, including members of the bank’s management committee and those directly involved in the fraudulent activities. The agency informed the court about the existence of concrete evidence pointing towards money laundering by the accused. The ED uncovered a black money transaction amounting to 90 crores in Karuvannur Bank and has identified properties valued at 87.75 crores in connection with the case.