Thrissur: The Enforcement Directorate (ED) has revealed that the fraud committed by CPI(M) leader Aravindakshan in the Karuvannur Cooperative Bank is merely the tip of the iceberg. Beyond the bank’s governing body, the ED alleges that politicians associated with the bank are also implicated in the fraud. During the consideration of Aravindakshan’s bail plea, the ED informed the court that he had coerced the bank’s governing body to grant funds illegally.
Furthermore, the ED asserted that the illicitly obtained funds had been funneled into the CPI(M) account in Karuvannur bank. Earlier, the ED had uncovered a separate account held by the CPI(M) in the bank. Notably, the ED pointed out that Aravindakshan, acting as an intermediary, had been influencing individuals, including ministers, on behalf of Satheesh Kumar to facilitate various illicit transactions.
The ED informed the court that fees for Satheesh’s daughter’s medical studies were paid from Aravindakshan’s account, indicating a close relationship between the two. The ED emphasized that Aravindakshan was well aware of all transactions involving Satheesh. The court has adjourned the hearing on the petition to the 21st December.
