MALAPPURAM: KT Jaleel MLA has come up with further allegations regarding the irregularities in AR Nagar Co-operative Bank. Jaleel alleged that irregularities and black money transactions worth Rs 1021 crore took place in the bank. He also said that PK Kunhalikutty and his close aide Harikumar, the secretary of the bank, were the masterminds behind the scam. Jaleel said that money was laundered by creating 862 fake accounts in the bank with 257 customer IDs. Releasing the investigation report of the Co-operation Department, Jaleel said that this money may have been the money received in the Titanium scam.

Jaleel also alleged that Kunhalikutty's son Aashiq had invested Rs 3 crore in violation of foreign exchange rules. Jaleel added that senior leaders of the Muslim League had deposits and loans in the bank and had defrauded about 50,000 customers.