Kerala ED raids CPI M MLA A C Moideen others in cooperative bank linked money laundering case
The residence of senior CPI(M) legislator A C Moideen in Thrissur district’s Wadakkanchery area has been raided by the Enforcement Directorate (ED) team in connection with the Karuvannur Cooperative bank fraud.
Soon after the scam surfaced, reports claimed a close relationship between those who ran the bank and Moideen, the Kunnamkulam MLA.
The fraud detected in the bank was in excess of Rs.200 crore, leaving many depositors in deep distress.
Moideen was a state minister in the first Pinarayi Vijayan government-2016-21.
The ED registered cases against 18 people, including director board members and staff of the popular Cooperative bank.
Eight of them were sent to jail and a court order directed confiscation of their assets to recover the money, but was stayed.
Taking a dig at the ruling party, Anil Akkara — a former Congress MLA from the district — said soon the CPI(M) will come with the stereotyped statements that the Centre is using agencies to haunt political opponents.
Moideen is present at his house as the raid by the 12- member team continues.
[With Inputs from IANS]
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