Vigilance raid at Nemom Co-operative Bank; mass action in CPM against fraudsters

NEMOM: The vigilance raided the Nemom Service Co-operative Bank, where a major financial fraud occurred. Several important documents were seized. The vigilance officials reached the Bank at around 10 a.m. yesterday and checked the records of the customers who came to the bank as well. The raid lasted until 7 p.m.

Meantime, CPM district secretary Adv V Joy MLA spoke to Co-operation Minister VN Vasavan over the phone in connection with the irregularities. The minister assured that necessary action would be taken after studying the report after the inspection by the joint registrar. The MLA stated the minister said that a special package would be contemplated for the victims and a plan would be prepared for clearing the dues of those who had taken loans.

At the same time, there was mass action in the CPM against those behind the fraud. The bank's secretary and Nemom branch member RA Rajendran and former secretary and CPM Vellayani branch member Balachandran Nair have been expelled from the primary membership. Nemom area committee member Pradeep Kumar who was the president of the bank for ten years, former president and Nemom local committee member VS Shaji, Nemom local committee member Shafeera Begum, old Karakkamandapam branch secretary Zulfiqar, old Karakkamandapam branch member Beena and Karumam branch member Adv Unnikrishnan were suspended from the party.

Memorandum submitted

The depositor's collective has lodged a complaint with Minister VN Vasavan demanding that the depositors get the money back and a probe be conducted into the fraud. The petition was submitted by samiti office-bearers Santhivila Mujeeb Rahman and Kaimanam Suresh. Mujeeb Rahman said the minister has assured that a joint registrar has been tasked to resolve the crisis and further action will be taken as soon as the report is received.