ED expands probe into Karuvannur bank fraud case in Kerala; raids premises of new benamis

Expanding its probe into the alleged Rs 100 crore fraud in the CPI (M)-controlled Karuvannur cooperative bank, the Enforcement Directorate on Monday raided the premises of persons allegedly linked to fraudulent dealings in the case.

ED sources said searches are going on at the premises of new benamis identified as having benefited from fraudulent loans from Karuvannur Bank.

Nearly a month ago, the ED raided the premises of former minister and CPI(M) MLA A C Moideen and some others as part of the money laundering investigation.

The federal agency then covered about half-a-dozen premises in the state as part of the fresh searches conducted under the provisions of the Prevention of Money Laundering Act (PMLA).

Later, Moideen was interrogated by the ED for over nine hours in connection with its probe into the bank scam.

Addressing the media after the interrogation, Moideen said he will appear again if required.

Raids were carried out by the ED in this case in August last year, too.