NEW DELHI: The ED has forwarded a probe report to EC and the income tax for further investigation against Thrissur-based
Karuvannur Cooperative Bank
where the agency has allegedly named some
CPM leaders
of having
undisclosed accounts
, having acquired undisclosed assets from '
proceeds of crime
' and funds suspected to have been illegally diverted for party use.
The agency said it has found involvement of CPM's former cabinet minister
A C Moideen
in the affairs of the bank and irregularities in sanctioning of loans by the Karuvannur Service Cooperative Bank. The ED has already questioned Moideen in the case. In its report sent to the I-T and EC, the agency has mentioned at least 80 bank accounts that have about 25 crore worth of deposits, mostly made in cash. The agency has also sent a list of undisclosed properties to the I-T department and to the poll watchdog to verify whether these were disclosed in poll affidavits by persons concerned.
The crime branch of Kerala police had earlier registered more than 16 FIRs in Thrissur regarding fraud in Karuvannur Service Cooperative Bank. The
ED probe
revealed that multiple bogus loans were sanctioned by the bank on the same property without the knowledge of members of the society. "The loan amounts were disbursed in cash and also huge cash deposits were found in books of the bank," the agency had said earlier. The cooperative bank has also been under scrutiny of the Registrar of Cooperative Societies in Thiruvananthapuram. The Registrar in their audit found diversion of more than 100 crore.
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