Nemom cooperative bank fraud: Chief Minister directs to take strict action, asks officials if anyone was arrested so far

THIRUVANANTHAPURAM: Chief Minister Pinarayi Vijayan on Saturday directed the police and the cooperation department to take strict action in connection with the investment fraud of crores in the Nemom Service Cooperative Bank. During an online meeting held in the presence of Cooperation Minister VN Vasavan, the CM inquired if anyone has been arrested in the case so far, to which officials replied that no arrests have been made yet.

According to sources, the police have intensified their efforts to arrest those who worked behind the fraud. The cooperation department has initiated discussions on dissolving the bank's governing body and imposing administrative control. It is also reported that the Registrar of Cooperative Societies has been tasked with preparing a special plan to return the depositors' money. Action will also be taken against bank employees involved in irregularities. Chief Secretary Sharada Muraleedharan, Cooperative Registrar Sajith Babu and others attended the meeting.