ED attaches CPM office land, bank accounts
5 months, 3 weeks ago

ED attaches CPM office land, bank accounts

New Indian Express  

KOCHI: The CPM has landed in more trouble in the Karuvannur Service Cooperative Bank money laundering case, with the Enforcement Directorate on Friday temporarily attaching the party’s Porathissery office land and eight bank accounts in Thrissur district. ED had named CPM as a key accused in the case after a probe revealed that money involved in the scam was diverted to party bank accounts. These include five bank accounts of the CPM in the Karuvannur Service Cooperative Bank, and two fixed deposit accounts of the CPM Thrissur district committee and a savings account of the party Irinjalakuda area committee in three other banks, the source said. ‘CPM arraigned accused’ “Also, bank accounts and immovable assets of several individuals have been attached in connection with the case,” the source said.

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History of this topic

Edamulackal bank fraud: HC asks ED to register case
2 weeks, 5 days ago

Edamulackal bank fraud: HC asks ED to register case

The Hindu  

A Division Bench of the Kerala High Court on Wednesday directed the Enforcement Directorate to register a case under the Prevention of Money Laundering Act in connection with the Kollam-based Edamulackal Service Cooperative Bank financial fraud. The Bench comprising Justice Amit Rawal and Justice K.V Jayakumar passed the order when an appeal filed by Rajendran Unnithan S., 71, of Chadayamangalam …

Enforcement Directorate arrests four more accused linked to cyber fraud syndicate involving “Chinese scammers”
3 months, 1 week ago

Enforcement Directorate arrests four more accused linked to cyber fraud syndicate involving “Chinese scammers”

The Hindu  

The Enforcement Directorate has arrested four accused in a case related to cyber fraud of ₹2.60 crore by a person posing as a Central Bureau of Investigation official, who was part of a network involving “Chinese scammers”. “All the four accused were involved in incorporation of shell companies and opening of bank accounts, through which Proceeds of Crime generated from …

ED uncovers CPM's role in bogus loans linked to Karuvannur bank scandal
5 months, 3 weeks ago

ED uncovers CPM's role in bogus loans linked to Karuvannur bank scandal

New Indian Express  

KOCHI: The Enforcement Directorate probing the Karuvannur Service Co-operative Bank money-laundering case found that bogus loans were sanctioned at the behest of CPM Thrissur District Committee. The investigation also found that five cents of land purchased for the construction of CPM office at Porathissery was from proceeds of crime linked to Karuvannur bank. These included five cents of land purchased …

ED attaches ₹2 crore assets in bank fraud case
10 months, 2 weeks ago

ED attaches ₹2 crore assets in bank fraud case

Hindustan Times  

: Enforcement Directorate on Wednesday provisionally attached two immovable properties worth ₹2.15 crore belonging to a stakeholder of a private firm under the provisions of Prevention of Money Laundering Act, 2002 in a bank fraud case. HT Image The firm allegedly misappropriated a nationalised bank’s funds causing it to suffer financial losses. They further informed that ED initiated investigation on …

ED raid at Kandala bank in Kerala puts CPI and LDF on the defensive
1 year, 1 month ago

ED raid at Kandala bank in Kerala puts CPI and LDF on the defensive

The Hindu  

An Enforcement Directorate raid on the Communist Party of India-controlled Kandala Service Cooperative Bank has put the ruling Left Democratic Front further on the defence. The inspection comes close on the heels of the ED’s move to extend the Karvunnur Service Cooperative Bank scam to prominent Communist Party of India leaders and their alleged frontmen, including chit-fund operators, in Thrissur. …

Kerala: ED Files 1st Charge Sheet in Karuvannur Cooperative Bank Money Laundering Case; Names 55 Accused
1 year, 1 month ago

Kerala: ED Files 1st Charge Sheet in Karuvannur Cooperative Bank Money Laundering Case; Names 55 Accused

News 18  

The Enforcement Directorate on Wednesday filed its first charge sheet against 55 accused entities as part of its money laundering probe linked to the Karuvannur Service Cooperative Bank of Kerala, official sources said. The prosecution complaint, filed under various sections of the Prevention of Money Laundering Act, contains more than 10,000 pages including relied upon documents and other annexures appended …

Karuvannur co-op bank scam: ED arrests CPM Leader, former accountant of bank
1 year, 2 months ago

Karuvannur co-op bank scam: ED arrests CPM Leader, former accountant of bank

Deccan Chronicle  

Thiruvananthapuram: The Enforcement Directorate has arrested P.R. Aravindakshan, a councillor and CPM leader, for his involvement in the Karuvannur cooperative bank fraud case. Several persons have been questioned in connection with the case, including M K Kannan, the president of the Thrissur Co-operative Bank and a CPM leader. The ED on Tuesday also arrested Jills, a former accountant of the …

Kerala’s CPM lawmaker AC Moideen summoned by ED on Sept 4 in benami loans case
1 year, 3 months ago

Kerala’s CPM lawmaker AC Moideen summoned by ED on Sept 4 in benami loans case

Hindustan Times  

KOCHI: Communist Party of India legislator AC Moideen has been summoned for questioning by the Enforcement Directorate in connection with the alleged fraud at the Karuvannur Service Co-operative Bank, people familiar with the matter said. In a statement last week, ED said benami loans were disbursed in cash to non-members of the CPM-controlled co-operative bank in Thrissur district on the …

Karuvannur Cooperative Bank scam: ED raids residences of Kerala CPM MLA AC Moideen
1 year, 4 months ago

Karuvannur Cooperative Bank scam: ED raids residences of Kerala CPM MLA AC Moideen

Op India  

On Tuesday, August 22, the Enforcement Directorate raided the residence of CPM MLA AC Moideen at Wadakkancherry in Thrissur district as part of an investigation in a money laundering case linked to the Rs Rs 312 crore fraud at Karubannur Co-operative Bank, which is controlled by the ruling CPM. An #EnforcementDirectorate team launched a search operation at the residence of …

Kerala: ED raids CP(M) MLA Moideen, others in money laundering case
1 year, 4 months ago

Kerala: ED raids CP(M) MLA Moideen, others in money laundering case

Deccan Chronicle  

Thiruvananthapuram: The Enforcement Directorate on Tuesday raided premises of CPI MLA A C Moideen and some others as part of a money laundering investigation linked to an alleged Rs 100 crore fraud in the party controlled Karuvannur cooperative bank, official sources said.The federal agency is covering about half a dozen premises in the state as part of the action being …

Data operator booked for embezzling ₹19.5 lakh from central govt PSU in Gurugram
1 year, 5 months ago

Data operator booked for embezzling ₹19.5 lakh from central govt PSU in Gurugram

Hindustan Times  

A junior data entry operator at the central government’s mini-ratna firm Wapcos Limited was booked for allegedly embezzling ₹19.56 lakh from the company’s account to other accounts operated by him by forging vouchers and documents and exploiting a loophole in the payment mechanism, police officers familiar with the matter said on Tuesday. According to police, the suspect transferred money to …

Kerala: ED raids Karuvannur Co-operative Bank in Rs 104 crore fraud case
2 years, 4 months ago

Kerala: ED raids Karuvannur Co-operative Bank in Rs 104 crore fraud case

India TV News  

Highlights A fraud of nearly Rs 104 crore was reported in Karuvannur The fraud was reported at the Co-operative Bank in Trichur Agitated depositors are on a warpath against the management of the bank Kerala: The Enforcement Directorate on Wednesday conducted raids at the Karuvannur Co-operative Bank. A fraud of nearly Rs 104 crore was reported in Karuvannur co-operative Bank. …

ED attaches assets worth Rs 36 crore of Kerala man in cryptocurrency scam
2 years, 11 months ago

ED attaches assets worth Rs 36 crore of Kerala man in cryptocurrency scam

India Today  

The Enforcement Directorate has attached assets worth Rs 36.72 crore of a Kerala man in connection with a case involving cryptocurrency dealings under the Prevention of Money Laundering Act, officials said on Monday. The attached assets belong to 31-year-old Nishad K who allegedly cheated hundreds of people along with his associates to the tune of Rs 1,200 crore. The attached …

Kerala: Rs. 100 crore scam unearthed at CPM members controlled bank
3 years, 5 months ago

Kerala: Rs. 100 crore scam unearthed at CPM members controlled bank

Op India  

A Rs 100 crore scam has been reported in a cooperative bank controlled by members of the ruling communist party in Kerala. As per an Asia Net report, a case of financial mishandling between 2014-2020 has come to the fore at Karuvannur Service Cooperative Bank. The governing committee of the bank with 12 CPM members has been disbanded after the …

Bank Fraud Case: ED Raids Ahmedabad-based True Value Group, Seizes Rs 6 Crore
4 years, 1 month ago

Bank Fraud Case: ED Raids Ahmedabad-based True Value Group, Seizes Rs 6 Crore

News 18  

The Enforcement Directorate on Saturday said it has carried out searches at six locations belonging to an Ahmedabad-based True Value group and another firm and seized around Rs 6 crore in connection with a bank fraud case. The agency carried out searches at the residential and office premises of the firm True Value Group and another Vipul and Manish Associates …

Kerala Govt Terms Treasury 'Embezzlement' Serious Cyber Crime; Sets up Panel For Probe
4 years, 4 months ago

Kerala Govt Terms Treasury 'Embezzlement' Serious Cyber Crime; Sets up Panel For Probe

News 18  

The Kerala government has transferred all but one official of a sub-treasury here in the wake of 'embezzlement' of funds from the District Collector's account as it on Monday dubbed the incident as a "serious cyber crime". A day after the government suspended a senior accountant of the Vanchiyoor sub-treasury for allegedly committing the fraud, Finance Minister TM Thomas Isaac …

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