Karuvannur bank fraud: ED raid at houses of five accused at same time

THRISSUR: The Enforcement Directorate (ED) is conducting raids at the houses of the accused in Karuvannur bank fraud case. The houses of the five accused are being searched at the same time. The houses of the main accused Bijoy, Sunil Kumar, Jills, Biju Karim and Divakaran are being raided. Officials from Kochi are conducting the raid.

The Karuvannur Bank fraud came to light on July 14 in 2021. More than Rs 312 crore deposited in the bank by common people was swindled by the employees and the left administration panel. In an inspection conducted by the high committee, serious irregularities were found. The crime branch team arrested the employees who embezzled the money, six middlemen and eleven members of the left governing body. Even though the bank claimed that the process has started to return the money, the information that money has been given, has not been revealed. The crime branch has so far registered eighteen cases against the bank.