Union Minister rebuts CPI(M)’s charges against ED in cooperative bank scam

PTI, Sep 23, 2023, 7:29 PM IST

Union Minister V Muraleedharan on Saturday rejected ruling CPI (M)’s claim that the investigation into the multi-crore Karuvannur bank scam was a deliberate move by the Centre targetting the Cooperative sector of Kerala.

Around Rs 150 crore, invested by common people in the Karuvannur Cooperative Bank, were looted by some fraudsters but the Chief Minister, his cabinet colleagues and CPI (M) state secretary were justifying it, he alleged.

Addressing media persons here, the BJP leader also sought to know if senior CPI (M) leader and MLA A C Moideen had done nothing wrong, then why was he not ready appear before the Enforcement Directorate despite repeated summons. Why even the former minister was afraid to answer the questions of the central investigating agency? he asked. Muraleedharan warned that those who looted the life savings of the poor would not be spared. He questioned the allegations raised by the CPI (M) that a witness in the case was assaulted and threatened by the ED officials so that he would name senior party leaders in the case. On September 11, CPI(M) leader Moideen, was interrogated for over nine hours by the ED in connection with its probe into the Rs 150 crore Karuvannur Cooperative bank scam which triggered a political row in Kerala recently. The case relates to the alleged fraud in the CPI(M)-controlled Karuvannur Cooperative Bank. The ED has been questioning those involved in the case since it conducted raids at their premises last month. The ED had earlier issued freeze orders against bank and fixed deposits worth Rs 28 lakh of Moideen, the former Kerala Minister for Cooperation and Industries and his wife, apart from the seizure of 36 properties valued at Rs 15 crore — ”proceeds of crime” in this case. After the Kerala Police registered the FIR in July 2021, the registrar in their audit found ”diversions” of more than Rs 100 crore.