Pressurised to sanction illegal loans in Karuvannur bank; ED files affidavit against Minister P Rajeev

KOCHI: The Enforcement Directorate (ED) has filed an affidavit against Minister P Rajeev in the Karuvannur Bank fraud case. According to the affidavit filed by the ED in the High Court, P Rajeev had pressurized to sanction illegal loans in the Karuvannur Bank when he served as CPM Ernakulam District Secretary. It was Sunil Kumar, former secretary of Karuvannur Bank, who gave a statement against the minister.

Meanwhile, the ED issued another notice to Thrissur CPM District Secretary MM Varghese in the Karuvannur bank black money case. Varghese has been directed to appear for questioning on the 19th of this month. Although MM Varghese was summoned earlier to appear, he did not turn up.

ED is alleging that CPM has more accounts in Karuvannur Bank. Five accounts have been found so far. According to the ED, transactions of up to half a crore have taken place through each account. CPM has also received commissions in the Karuvannur investment scam. Transfer of commission amounts for benami loans was carried out through party accounts. The ED also said that 90 percent of the amount was withdrawn from the party accounts after the bank irregularities came to light. However, the CPM is not ready to hand over the information about the money transactions in the Karuvannur bank accounts.