Karuvannur bank fraud: ED raid at houses of five accused at same time
The Enforcement Directorate attached to the Kochi office here on Wednesday started simultaneous raids at the residences of five accused in the Rs 312 crore fraud at the CPI-M controlled Trissur-based Karuvannur Cooperative bank. Incidentally, of the five accused where the raids began, four are out on bail. The ED officials involved in the raids were being guarded by the armed CISF guards as a matter of precaution. The Karuvannur Cooperative bank fraud in Thrissur district came intolimelight a year ago, but not much headway has been made in the probe by the police. Trouble broke out very recently when a depositor after desperate pleas for getting his money back for treatment passed away. Since then the fraud in the CPI-M controlled bank has made frequent headlines and even saw the Kerala High Court intervening. Last week the Court directed the scam-tainted coop bank to stop all payments barring the emergency ones and asked the Pinarayi Vijayan government to prepare a roadmap aimed ...