WhatsApp Image 2023-02-26 at 9.49.20 AM (1)
WhatsApp Image 2023-02-26 at 9.49.20 AM

Left leaders and bank scams

Kochi: Preaching one thing and practicing the other seems to be the hallmark of many leaders of communist parties in Kerala where many leaders are allegedly involved scams worth crores of rupees in cooperative banks ruled by them, media reports said.
Even parties like Congress are also facing charges of engaging in irregularities in banks governed by them, the reports said.
The most horrifying is the case at Karuvannur Cooperative Bank in Thrissur where financial irregularities worth over Rs 600 crore is said to have taken place even as the Enforcement Directorate has submitted an interim chargesheet worth Rs 101 crore.
People who had deposited their hard earned money are not able to withdraw it. Title deeds mortgaged for loans were used by others to secure loans. Former minister A C Moideen was questioned by the ED and his property attached.
The latest scam doing rounds is the one at Kandala Cooperative Bank in Thiruvananthapuram where a fraud of Rs 101 crore is said to have taken place under the leadership of CPI leader and the bank’s former president N Bhasurangan.
Thankfully the party booted him out of the party contrary the CPM which has protected the tainted leaders and described the ED’s move a plan drafted by the BJP and sangh pariwar, the reports said.
Bhasurangan’s family lived a luxurious life. His son Akhil owned an expensive car and
once owned a supermarket and a hotel in Thiruvananthapuram, the reports said.
Bhasurangan had connections with leaders of different parties including Congress which he quit to join CPI in 2006.
He was accused of giving employment to
those having affiliation with the CPI in the bank.
Party insiders alleged that Bhasurangan released funds to different parties during election.
There were charges against him for trying to defeat party candidate in the assembly elections in Katakada.
Bhasurangan had started irregularities in the bank about three decades back. The cooperative department had imposed penalty for alleged irregularities in 1993 which was rejected by the left government.

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