Karuvannur Co-operative bank fraud; Two leaders including former minister were not vigilant enough, says party secretariat

THRISSUR: Two leaders including a former minister were not vigilant enough in the Karuvannur bank fraud, said the CPM state secretariat. Preliminary assessment is that former minister A C Moideen and Baby John lacked vigilance and both failed to convince the state leadership about the matter.

The district unit of the CPM had earlier entrusted an investigation commission in the bank fraud. Despite all these problems, the leadership assess that A C Moideen and Baby John failed to convince the state leadership about the incident.

A picture of the then minister attending the inauguration of the super markets of the wives of the accused were released earlier. Moideen had explained that he attended the function as a minister and social activist and that none of the accused are his relatives.

About 90 per cent of the banks in the co-operative sector are under the control of the CPM. The state secretariat directed to ensure scrutiny and vigilance at the party level in all CPM ruled co-operatives.