Kochi: The Directorate of Enforcement (ED) on Wednesday indicted 50 persons and five companies in the interim charge sheet submitted before the Special Court, Kochi, in connection with the Karuvannur Cooperative bank scam.
The ED has charged the 55 accused of engaging in Rs 90 crore fraud, media reports said.
The incarcerated Wadakkanchery municipality councillor P R Aravindakshan, 57, of CPM is the 13th accused.
The prime accused A K Bejoy, a commission agent of the bank, is the owner of three companies out of the five tainted ones and owes Rs 85 crore to the bank.
The remaining two companies, owned by accused P P Kiran, owe Rs 48.57 crore to the bank.
The other accused include bank employees, bank directors, beneficiaries of the illegal loans, and those who helped in money laundering.
Ninety defaulters owe Rs 343 crore to the bank, the reports said.
ED files charge sheet in bank scam
