After Karuvannur, the Enforcement Directorate has started investigation into an alleged fraud at Thumboor Service Cooperative Bank.
It is reported that a misappropriation of ₹3.5 crore has been found at the bank, mostly during the tenure of former bank president and Congress leader Johny Kachappally.
There are allegations that loans have been sanctioned with fake documents with the support of the director board. Multiple loans have been allegedly taken on the same document without the knowledge of the owner.
A few land owners, who realised the fraud using their documents, approached the court. The Aloor police had registered a case of fraud earlier.
