Karuvannur Co-op Bank Case: ED Files Chargesheet, Names CPI(M) As Accused

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Last Updated:May 26, 2025, 20:18 IST

The CPI(M) has been named done its enactment caput of the Thrissur territory committee.

CPI (M) MP K Radhakrishnan. (X)

The Enforcement Directorate has named the ruling CPI(M) successful Kerala arsenic an accused successful a caller chargesheet filed by it successful the Karuvannur Service Cooperative Bank “scam" case, authoritative sources said.

This is lone the 2nd lawsuit wherever the national probe bureau has named a governmental outfit arsenic an accused nether the Prevention of Money Laundering Act (PMLA). Last year, it named the Aam Aadmi Party (AAP), which was the ruling enactment successful Delhi astatine the time, arsenic an accused successful the liquor “scam" case.

Sources said the ED has named a full of 28 entities and individuals successful its archetypal supplementary chargesheet filed successful this case, and those arraigned see the CPI (M), its MP K Radhakrishnan, enactment MLA AC Moideen and others.

The CPI(M) has been named done its enactment caput of the Thrissur territory committee.

The Left enactment had earlier rejected the allegations levelled by the cardinal probe agency, saying it would combat them legally and politically.

The prosecution ailment was filed connected Monday earlier a peculiar PMLA tribunal located successful Kochi. The chargesheet has been filed nether assorted sections of the anti-money laundering law, including Section 70 (offences committed by companies and vicarious liability of their promoters), they said.

With this chargesheet, the full fig of accused successful this lawsuit has travel to astir 83, the sources said. There were 55 accused successful the archetypal chargesheet filed successful 2023.

The wealth laundering probe stems from astatine slightest 16 FIRs registered by the Kerala Police transgression subdivision astatine Thrissur successful July 2021 connected charges of alleged irregularities successful the CPI(M) controlled slope worthy Rs 150 crore.

The bureau has claimed that the full proceeds of transgression successful this lawsuit are worthy astir Rs 300 crore, the sources said.

The bureau had earlier claimed its probe recovered that “bogus" loans were sanctioned by the cooperative slope connected the “same spot aggregate times" without the cognition of the members of the society.

Benami loans were sanctioned to non-members against “inflated" spot valuations successful the names of different members and specified indebtedness funds were “siphoned off" and “laundered" by the accused beneficiaries, the ED had earlier said.

The bureau had conducted raids successful this lawsuit successful August-September 2023 and arrested 4 persons isolated from attaching assets worthy Rs 128 crore.

The ED had besides claimed successful a property connection issued successful January that benami loans were disbursed by the slope connected the “instructions" of the CPI(M) territory committee members and the governmental party, successful turn, received “donations" successful its coffers from specified beneficiaries.

Location :

Kerala, India, India

First Published:

News india Karuvannur Co-op Bank Case: ED Files Chargesheet, Names CPI(M) As Accused