WAYANAD: Enforcement Directorate has confiscated the property of bank officials including KPCC former general secretary KK Abraham in the Pulpally Cooperative Bank loan fraud case. ED sources said that the assets are worth Rs 4.34 crore.

Last Tuesday, KK Abraham was taken into custody by the Enforcement Directorate in connection with the bank fraud. He was brought to Kozhikode ED headquarters and arrested on Wednesday after being interrogated. KK Abraham was in ED custody for two days and was produced in the PMLA court on November 10 after the custody ended. The court extended the remand for 14 days. Another accused in the case, Sajeev Kollapally, will also remain in judicial custody for another 14 days.

The case is that there was evasion of Rs 8.64 crore in loan transactions in the UDF-controlled Pulpally Co-operative Bank. Police had earlier arrested KK Abraham and the bank secretary in this case. KK Abraham was taken into custody by the ED while he was on bail. There is a fraud case against ten persons in the Thalassery Vigilance Court. A farmer who was a victim of fraud had committed suicide.