The Enforcement Directorate (ED) on Friday told the Special Prevention of Money Laundering Act (PMLA) court here that Satheesh Kumar P., who was arrested in connection with the multi-crore Karuvannur Cooperative Bank scam, was a benami of a former MP, a sitting MLA and high-ranking police officers.
The agency had arrested Mr. Satheesh Kumar and Kiran P.P. for their alleged role in the scam on September 4. The court remanded the accused in judicial custody till September 19. The ED investigating team said in its remand report that the forensic examination of Mr. Satheesh Kumar’s mobile phone revealed his association with high-profile political leaders.
Middleman’s statement
Alleging that the accused were not cooperating with the investigation, the ED said that one Jijor, who was acting as a middleman for Mr. Satheesh Kumar, had submitted that Mr. Satheesh Kumar was managing the funds of the high-profile persons. He also stated that he was witness to Mr. Satheesh Kumar receiving ₹3 crore, which was the loan amount availed of by Mr. Kiran in the name of another person.
Mr. Jijor also gave a statement alleging that Mr. Satheesh Kumar was involved in money-lending business to the tune of about ₹500 crore. The defaulters were threatened by his goons and such acts were intermediated by Aravindakshan, president, Vadakkancherry grama panchayat, and Madhu, counsellor of Vadakkancherry municipality, both belonging to the Communist Party of India (Marxist).
The investigation revealed that illegal loans availed of by Mr. Kiran were transferred to the bank account of Mr. Satheesh Kumar. Mr. Kiran stated that ₹14 crore out of the ₹24.5 crore availed of by him as loan was handed over to Mr. Satheesh Kumar through bank transfer and cash transaction.
