The Enforcement Directorate (ED) logo.
Credit: PTI File Photo
Thiruvananthapuram: The Enforcement Directorate has named the CPI(M) and three party senior leaders, including K Radhakrishnan MP, as accused in the Rs. 180 crore Karuvannur cooperative bank scam.
The move came just ahead of the Nilambur assembly by-poll as well as close on the heels of Kerala Vigilance and Anti-Corruption Bureau initiating a bribery case against an ED official. CPi(M) state secretary M V Govindan termed the ED move as a political conspiracy.
The scam pertained to the alleged misappropriation of deposits of the Karuvannur service cooperative bank in Thrissur, which has CPI(M) leaders in the governing body.
Loans were found to be issued to several persons, who are suspected to be benamis, by exaggerating the value of the land pledged. Properties worth around Rs. 128 crore have so far been attached by the ED.
Apart from Radhakrishnan, who is also a former minister, another former minister and MLA, A C Moideen and CPI(M) leader M M Varghese were arraigned in the second charge-sheet filed at the PLMA court in Kochi on Monday. The three are former district secretaries of the CPI(M) in Thrissur.
The CPI(M) leadership was found to be directly involved in the irregularities in the bank, and monetary gains from it were used for the party. Hence, the party was also named in the case.
Among the 83 accused in two chargesheets, Moideen is arraigned as 67th, CPI(M) as 68, Varghese as 69 and Radhakrishnan as 70th.
Several other local leaders of the CPI(M) associated with the bank were also arraigned in the money laundering case.
CPI(M) state secretary said that the ED move would not cause any damage to the party, as the people could realise the political motives behind it. Even the Supreme Court recently raised concerns over the functioning of the ED, he said.
The state Vigilance and Anti-Corruption Bureau recently registered a case against an assistant director of ED for allegedly taking bribes through agents from persons facing money laundering charges for settling the cases. Vigilance officials had also said that many such complaints came up against ED officials.