Huge blow for CPM ahead of Nilambur by-election; ED names three CPM former district secretaries as accused in Karuvannur case

THRISSUR: The Enforcement Directorate (ED) has filed a second supplementary chargesheet in the Karuvannur bank fraud case at the Ernakulam Special Court for the Prevention of Money Laundering Act (PMLA). The chargesheet names the CPM and three of its former district secretaries from Thrissur as accused. Senior party leaders M.M. Varghese, A.C. Moideen, and K. Radhakrishnan MP have been included in the list of individuals facing charges. The latest chargesheet, submitted by investigating officer Nirmal Kumar Moshe, adds 27 more individuals to the list of accused, bringing the total number of accused in the case to 83.

With just 24 days left for the Nilambur by-election, the move is likely to create significant political turbulence for the CPM. The bypoll was necessitated by the resignation of independent MLA P.V. Anvar. The inclusion of prominent CPM figures in the chargesheet is expected to provide ammunition for the opposition, potentially influencing the by-election outcome as well as the forthcoming local body polls.

The Karuvannur cooperative bank scam, pegged at Rs 180 crore, is one of the largest financial frauds reported in Kerala in recent years. Of this amount, the ED has already attached assets worth Rs 128 crore. A total of eight political leaders, including former CPM district secretaries, have been named as accused in the case so far.