ED Attaches CPI(M) Assets in Karuvannur Bank Scam Probe

The Enforcement Directorate has attached assets allegedly linked to the CPI(M) in the Karuvannur Cooperative Bank scam. This includes a land parcel and bank deposits worth Rs 73 lakh. The CPI(M) denies wrongdoing, accusing the ED of politically motivated actions. The case involves alleged money laundering and fraudulent loans.

The Enforcement Directorate (ED) has seized assets reportedly connected to the Communist Party of India (Marxist), CPI(M), as part of its investigation into the Karuvannur Cooperative Bank scam. Sources revealed on Saturday that this attachment includes a land parcel in Kerala and bank deposits amounting to Rs 73 lakh.

CPI(M) leaders have strongly denied any malfeasance, asserting that the allegations of money laundering are unfounded. A provisional attachment order under the Prevention of Money Laundering Act (PMLA) has been issued for these properties, sources stated.

The properties include a Rs 10 lakh land parcel in Thrissur and Rs 63 lakh in deposits across five undisclosed bank accounts. CPI(M) plans to challenge the ED's actions both legally and politically, claiming the agency aims to tarnish the party's image without substantial evidence.

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