Crime Branch submits letter to know property details of accused in Karuvannur fraud case

THRISSUR: The probe team submitted a letter to the Registration IG seeking details to find the land transaction of the accused in the Karuvannur Co-operative Bank fraud case. Meanwhile, the probe team found several documents in the flat of the main accused Kiran.

The probe team is currently seeking information on land transactions registered in the state in the name of the accused and their relatives. It is learnt that the accused had bought the land using the money swindled from the bank. According to sources, that the properties were purchased in the name of the accused, relatives, and benamis. The probe team needs to identify these properties. The property value of the accused will also be assessed.

It was found that money was widely used for real estate transactions. Information will be collected on the properties in the name of the accused, their relatives and the suspects in the Benami transactions. Information has been collected on the resort in Thekkady owned by the accused, three companies registered in Iringalakuda, and a medical company in Kochi. Some other transaction documents were obtained during the search conducted at the homes of the accused and their friends.

300 crore
Although the findings of the preliminary investigation suggest that Rs 100 crore was swindled from the bank, the probe team believes that nearly Rs 300 crore was swindled from the bank. It is said that all the arrested accused made all the transactions with the knowledge of the governing body. With the government taking strict action against officials, top officials in the co-operation department and board members are more likely to be prosecuted. Sixteen people were suspended, including the Joint registrar of the Department of Co-operation.

More investment for Kiran

The crime branch conducted an inspection at accused Kiran's flat in Kakkanad. The finding is that he has more investment. Records of several companies being started were seized from the flat. The probe team had found that Kiran had a liability of Rs 33.29 crore in the Karuvannur bank. The money from the 46 loans also went to Kiran's account. It is concluded that he has left the state but has not left the country. So far, three accused have been arrested. Two other accused, Bijoy and Reji M. Anil are expected to surrender soon.