Karuvannur bank fraud case: ED’s deadline to M K Kannan ends today

KOCHI: The deadline given by the Enforcement Directorate (ED) to CPM state committee member and Kerala Bank vice president M K Kannan to hand over the information of his assets in the Karuvannur bank fraud case, will end today. The ED had directed to hand over the income tax records, records of self-acquired assets and details of assets of family members by Thursday evening.

He was earlier directed to hand over the details, but failed to produce it. The ED has hinted that strict action will be taken if he does not cooperate with the investigation. The ED had earlier questioned M K Kannan, who is also the president of Thrissur Cooperative Bank, in connection with the loan fraud in Karuvannur Cooperative Bank. The ED had found that P Sathish Kumar, who committed loan fraud in Karuvannur Bank, had invested in Thrissur Cooperative Bank. Documents were seized in the raid conducted by the ED in Thrissur Bank. Following this, former MLA Kannan was questioned.

Meantime, after interrogated by the ED, M K Kannan responded that he has a cordial relationship with the arrested Sathish Kumar for ten years and has not done any financial transactions. Kannan told the media that the ED officials threatened him and tried to harass him mentally during the interrogation.