ERNAKULAM: The Prevention of Money Laundering Act (PMLA) Court in Kaloor, Kochi, rejected the bail plea of the prime accused in the Karuvannur Cooperative Bank scam, PR Aravindakshan. The court rejected the bail based on arguments presented by the Enforcement Directorate (ED). This marks the second time that Aravindakshan’s bail plea has been rejected.
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.
PR Aravindakshan was arrested by the ED on September 26, 2023, after several hours of questioning regarding his involvement in the Karuvannur Cooperative Bank scam case. The ED gathered substantial evidence pointing to his involvement in money laundering.
Additionally, information obtained from the phone of the first accused, P Satheesh Kumar, also indicates Aravindakshan’s connection to the case. Aravindakshan is a close aide of former Minister AC Moideen.
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