THIRUVANANTHAPURAM: The Enforcement Directorate has initiated raids at Kandala Service Bank and the houses of former secretaries of the bank.An internal investigation found that more than 100 crores of fraud was committed in the CPI-run Kandala Service Co-operative Bank. More than 50 investors had filed a complaint with the police and the investigation was transferred to crime branch. The ED action is based on the complaints filed by the investors who are not satisfied with the investigation.

The search began at the homes of former bank secretaries Shanthakumari Rajendran and Mohana Chandran, as well as collection agent Ani. The ED team, which included officials and security personnel, arrived in Thiruvananthapuram this morning in three vehicles.

The complaint was filed in connection with a loan fraud case against CPI leader N Bhasurangan. The team arrived at Bhasurangan's rented house, but it was locked. ED will verify the bank account information and depositor information.