ED Intensifies action in Karuvannur scam; Former bank accountant Jills arrested

KOCHI: The Enforcement Directorate made a second arrest today in the Karuvannur Cooperative Bank fraud case. The ED team arrested former bank accountant CK Jills. After the arrest of CPM leader and Vadakanchery municipal councilor Aravindakshan, this marks the second arrest. Jills was also an accused in a previous case pursued by the crime branch and he was subsequently arrested by them.

Later, Jills who had been released on bail, alleged that he had carried out all his actions on the instructions of the bank's secretary and the members of the governing body. He claimed that he was ensnared in the case. Jills was arrested by the ED after an interrogation. The ED had stated that Aravindakshan was aware of the benami loan transactions in the bank and that there was substantial evidence against him. P R Aravindakshan is a close associate of AC Moideen in Vadakancherry.

Meanwhile, the CPM is providing strong support to Aravindakshan in the ED investigation. The party has made it clear that it will offer legal protection to Aravindakshan. Additionally, there are allegations that the ED is attempting to undermine the cooperative sector in the state through these arrests.

The ED's investigation revealed that the arrested Jills and Karuvannur Bank Manager Biju Karim accrued millions of rupees through loans from the bank. Jills has also clarified that he secured his job as a CPM nominee. The CPI, a constituent party of the Left Front has criticized the party's stance on the Karuvannur issue.