Kerala bank fraud: Trouble mounts for CPI(M) as ED may summon P.K. Biju for questioning

Ex-minister Moideen issued third notice; Biju has role in crime, says Akkara

P.K. Biju P.K. Biju

The Enforcement Directorate (ED) is likely to summon former Lok Sabha member and CPI(M) leader P.K. Biju for questioning in the Karuvannur Service Cooperative Bank scam in Kerala. The agency has already served a third notice to former minister A.C. Moideen, who had skipped the previous two summons, in connection with the Rs 300 crore case.

Early this week, the ED arrested two persons—P.Satheesh Kumar and P. Kiran

Meanwhile, Congress leader Anil Akkara on Saturday accused Biju of having a major role in the scam and said Satheesh is the mentor of the CPI(M) leader.

“Satheesh was the biggest source of finance for Biju. An internal panel led by Biju has submitted a report on the scam. Satheesh’s name was not mentioned in this report. This confirms Biju’s involvement in the crime,” Akkara said while talking to the media in Thrissur.

The Congress leader further alleged that Biju and CPI(M) district secretariat member P.K. Shajan had stayed in Karuvannur for a month to prepare the inquiry report. The duo had also held talks with employees at the bank and local committee members, he said.

“It is really suspicious that none of the bank employees named the first accused who made transactions of crores. If CPI(M) has found Satheesh's involvement in the case, they should have informed the matter to the Crime Branch. The party should make the inquiry report public to clarify all these matters,” Akkare said.

The ED has, in its third notice, asked Moideen to appear before it on Monday. On August 22, the agency had carried out searches at the residences of Moideen, Kiran, and Satheesh. ED is pursuing the investigation with the assumption that former minister played a pivotal role in facilitating the disbursement of illicit loans from the bank.

The questioning of two prominent leaders in the case is expected to place the CPI(M) in a more defensive position, given Kumar's close affiliations with numerous local party leaders. Furthermore, there are allegations that the illegal transactions orchestrated by Kiran for the fraud were purportedly conducted with the approval of the bank's board of directors, who were all CPI(M) activists. ED is actively probing this association.

Additionally, there are claims that Kumar held multiple accounts in various banks under the control of the CPI(M), which were allegedly used to facilitate various illicit loan disbursements. In the days ahead, ED will delve deeper into the extent of the connections between those arrested and CPI(M) leaders, including Moideen and Biju.

Currently, the CPI(M) is actively protecting its leaders. The party is upholding its stance by repeatedly emphasizing the narrative that the Union government is employing central agencies to undermine the reputation of opposition leaders.

With inputs from Nirmal Jovial

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