The Enforcement Directorate (ED) on Tuesday alleged that Kerala-based Karuvannur Service Co-operative Bank distributed benami loans on the instructions of Communist Party of India-Marxist (CPI-M) district committee members and in return the party received donations from such beneficiaries.
The ED, in a statement, claimed that it has attached further assets worth Rs 10.98 crore in connection with the money laundering probe in the case. There is no reaction from CPI(M) at this time. The ruling party in Kerala had earlier rejected ED’s allegations in the case, saying it would fight the charges legally and politically.
The ED said the attached assets include 24 immovable properties including land and buildings in Kerala and bank deposits worth Rs 50.53 lakh. This money laundering case is based on at least 16 FIRs registered in Thrissur by the Crime Branch of Kerala Police in July, 2021.
In the case, there are allegations of alleged irregularities worth Rs 150 crore in the bank. “The distribution of benami loans was made as per the instructions of the CPI(M) district committee members who controlled the governing body of the Karuvannur Service Co-operative Bank Ltd,” the ED alleged. “In return, the CPI(M) Received funds in the form of donations from the beneficiaries through the Governing Body.
