What was revealed through the Karuvannoor scam, where fraudsters flourished, investors' lives were ruined and the CPM was stumbling for an answer, was the unseen side of the Cooperative Bank. About 300 crore rupees of more than 7000 depositors were taken and the bank is saying they are helpless about returning the money. Paying back a small amount in instalments will not bring back their lost lives. From the marriage of children to the treatment at old age, the situation has turned upside down. So bad that they are forced to sell their houses.

To the reality in Karuvannur; the news series prepared by MS Sajeevan, Special Correspondent, Kerala Kaumudi Kochi Unit.

"House and plot for sale." This board has been on the gate of a two-storey house on the Kurupath road from Mapranam on the Irinjalakuda - Thrissur route for two months. Many people are coming asking for the price. It is the house of Vadakkethala Joshi. That board on the gate is the consequence of non-return of Rs 14.50 lakhs deposited in the Karuvannur Co-operative Bank. Comrade Joshi believed that his money was safe in the bank run by the Left.

Joshi deposited Rs 8.50 lakh in instalments before 2020. An additional 6 lakhs was deposited in the bank in 2020. Being a tax consultant and contractor, he needed money in many cases. Joshi had calculated that he would be able to settle his financial obligations by investing in Karuvannur Bank. When it went wrong, the house had to be put for sale.

"Was my crime depositing money in a local bank? Saying that investment in the co-operative sector is 100% safe is just not enough. The money should be returned." Joshi's words showed anger. Joshi is a member of the family that set up a secret hideout for EMS Namboothiripad.

The bank is also guilty of letting many people die.

Philomena Devasi of Mapranam, Edachalil Raman of Porathissery and Kattiparambil Kumaran of Madaikonam died because they could not get treatment money from the bank. Locals say Mukundan, a native of Thelappilly, and Jose, a native of Thaliyakonam, committed suicide because they could not face the liabilities. Another victim was bus driver Thilakan, who had to arrange his daughter's marriage by taking money on interest as he did not receive the amount from the bank. There are hundreds of victims of scams by governing body members, officials, political leaders and middlemen.