ERNAKULAM: The verdict on the bail plea of the prime accused in the Karuvannur Cooperative Bank scam, PR Aravindakshan, has been adjourned. The Prevention of Money Laundering Act (PMLA) Court in Kaloor, Kochi, adjourned the verdict on the bail plea to January 8.
The Enforcement Directorate (ED) argued in court to deny Aravindakshan’s bail, citing his high political influence within the CPI(M). Additionally, the ED mentioned Aravindakshan’s lack of cooperation with the investigation.
ED affirmed that the investigation related to money laundering in the Karuvannur Cooperative Bank scam will extend to top-level political leaders. Granting bail to Aravindakshan may lead to potential fabrication or destruction of evidence.
Aravindakshan is a close aide of former Minister AC Moideen.
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