Karuvannur: Loans granted on advise of CPM leaders, says ED

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karvaThrissur: The remarks about the CPM in the Enforcement Directorate’s order related to property pledging in connection with the Karuvannur money laundering case has proved a major headache for the communist party. According to the ED’s version, the party exercised undue influence over the decision making mechanism of the bank and also had the final say when it came to disbursal of loans. It is also said that the CPM maintained separate minutes for recording information on loans. The ED had also alleged that illegal loans were given to several people upon the recommendations by CPM leaders.

The CPM, at the moment, is in a spot. Using the findings in the ED investigation, even a layman can approach the court demanding further investigation into the allegations against the party in connection with the case. If a common man chooses to do so, then more communist leaders in the state will be in trouble. To make things worse, in the current circumstances, the police are eligible to register case by themselves or can conduct an investigation into the scam based on the ED findings.
While those involved in the scam were feeling relieved by the arrest of Wadakkanchery councillor PR Aravindakshan, believing it marked the conclusion of the case, the Enforcement Directorate (ED) had different intentions. Apart from levelling several allegations against the ruling party, the investigation agency also sounded a warning that their investigation is far from being over.
In the ED report, it is claimed that substantial material evidence comprising electronic devices were recovered from the sudden raids conducted at houses of several people who are believed to have been involved in the scam, which includes the house of MLA AC Moideen as well.

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