Thiruvananthapuram: The Enforcement Directorate (ED) said that a Karuvannur model bank fraud took place in the Kandala cooperative bank case as well. ED suspects a preliminary estimate of more than Rs 200 crores fraud. ED says that former CPI leader Bhasurangan and his son Akhiljith were directly involved in the fraud. Both were arrested Tuesday night.
ED also suspects that the amount may go up as further probe is conducted. The direct involvement of several others including top leaders is also hinted at. Irregularities have been found in granting loans and accepting deposits.
Bhasurangan and Akhiljith will be produced in court today. After being taken into custody, they will be interrogated in detail.
ED: Karuvannur model scam suspected in Kandala bank, top leaders involved added by Webdesk on
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