Karuvannur bank fraud: ED conducts raids at houses of former minister A C Moideen and others

THRISSUR: The Enforcement Directorate (ED) is conducting raids at the houses of those, including former minister A C Modieen, in the Karuvannur bank fraud case. The ED started inspecting the houses of the suspected to be benamis from 7 am.

The ED has been conducting a detailed investigation into the Karuvannur bank fraud for some time now. Several persons were interrogated. It is hinted that some employees had given statements against Moideen.

The ED is of the conclusion that A C Moideen had direct involvement in the fraud. The fraud that took place in Karuvannur was the biggest fraud that took place in a cooperative society in the state. Thousands of people who deposited money in the CPM-ruled bank are yet to get back their money.