KOCHI: Today is a crucial day for the party and the Enforcement Directorate as AC Moideen, CPM state committee member and MLA, will be questioned in the Karuvannur Cooperative Bank scam. ED revealed in the court that Moideen and a former MP were involved in the scam and Moideen is likely to be made an accused and arrested. The notice is to appear today at 11 am. Interrogation will be based on the statements given by those who planned the fraud, those who took the loan, middlemen and those associated with CPM. ED has prepared a detailed questionnaire.

Information has been collected from bank customers, investors, members, cooperative department officials etc. Some local leaders of CPM have also given information to ED. P Satish Kumar, who was arrested, is the mastermind of the scam. It is said that he got the connivance of the elite for the loan fraud of around 150 crore rupees.

ED's findings

P Satish Kumar is close to senior CPM leaders in Thrissur district. P Satish Kumar earned more than 100 crore rupees in his own name and in the name of PP Kiran and others. PP Kiran, who lives outside the bank's jurisdiction, took a loan of Rs 24.56 crore and transferred it to several others. Kiran's statement is that he gave 14 crores to Satish Kumar. The statement is that the money was given in the presence of PR Aravindakshan and Madhu Ambalapuram who are CPM leaders and people's representatives, and the middleman Jijor who handled the financial transactions of Satish Kumar. Jijor also stated that P Satish Kumar is the Benami of former MP and sitting MLA. Moideen has also been asked to produce documents of income, income tax, investments, assets etc.

CPM on the defensive



Moideen was not present in the previous two notices on the party's instructions because of the Puthuppally by-election campaign. If the witness does not appear even after the third notice, the ED is empowered to take strict action against the accused. Questioning Moideen will put the CPM on the defensive. Even if the case is alleged to be politically motivated, fraud cannot be justified. If Moideen is indicted or arrested, the opposition will take advantage.