ED Charges CPI(M) Thrissur Unit in Latest Bank Scam Case

The Enforcement Directorate has accused the CPI(M) Thrissur district unit in Kerala of involvement in the Karuvannur Service Cooperative Bank scam, implicating 28 entities and individuals in its supplementary chargesheet. The probe reveals alleged money laundering and bogus loan practices involving CPI(M) leaders.

The Enforcement Directorate (ED) has named the Thrissur district unit of the ruling CPI(M) party in Kerala in a new chargesheet related to the Karuvannur Service Cooperative Bank scam. According to sources, the chargesheet lists a total of 28 entities and individuals, including CPI(M) officials.

This marks only the second instance of the agency naming a political party as an accused under the Prevention of Money Laundering Act (PMLA), following last year's similar action against the Aam Aadmi Party (AAP) in a separate case. The chargesheet cites various anti-money laundering sections.

The probe stems from multiple FIRs alleging Rs 300 crore in funds irregularities. The ED claims loans were illicitly sanctioned by the bank, with funds laundered and siphoned off. The CPI(M) has denied these allegations, pledging to contest them both legally and politically.

(With inputs from agencies.)