Kochi: Former CPM minister A C Moideen’s house was raided by the Enforcement Directorate at Thrissur on Tuesday Karuvannur cooperative bank scam, media reports said.
Houses of a few others associated with the CPM leader were also raided, the reports said.
ED had questioned bank employees and others in connection with the case. The raids are sequel to the evidence collected from the employees in connection with the multi-crore loan fraud detected in the CPM-ruled bank near Irinjalakuda in 2021.
The ED has already attached assets worth Rs 30.70 crore of a commission agent Bijoy A K.
The Kerala High Court, hearing a petition on scam, had withheld disbursal of payments and directed the State government to prepare a plan for returning money due to depositors.
The ED initiated money laundering investigation on the basis of FIRs registered by Kerala Police. The Crime Branch of Kerala Police has registered more than 16 FIRs in the case.
The money laundering investigation carried out so far has revealed that multiple bogus loans were sanctioned by the Bank on the same property without the knowledge of members of the Society, media reports quoting the ED said.
The loan amounts were disbursed in cash and also huge cash deposits were found in the books of account of the Bank.
