Kochi: The Directorate of Enforcement (ED) has alleged that Kerala Industries Minister P Rajeev persuaded Thrissur-based Karuvannur Cooperative bank to sanction illegal loans when he was CPM Ernakulam district secretary, media reports said. In an affidavit submitted before the Kerala High Court, ED attributed these allegations to former bank secretary Sunil Kumar who has turned approver, the reports said. The affidavit said that several clandestine accounts were opened in the name of various area and local committees of the CPM for illegal activities like money laundering among others. Meanwhile, Rajeev has rubbished the allegations saying that more such allegations will surface in the coming days as lok sabha polls are approaching fast. A forensic probe found embezzlement of Rs 300 crore from the bank which has been ruled by the CPM for the last 40 years. Major fraudulent activities found in the bank included tampering of bank’s software, depriving depositors of their promised interest, forging signatures of depositors, benami transactions, remortgaging properties without knowledge of the customers among others, the reports said.
ED’s affidavit against minister P Rajeev
