Biju M. Karim and Sunil Kumar T.R., former manager and secretary respectively of the Karuvannur Service Co-operative Bank in Thrissur, have expressed their willingness to become prosecution witnesses in the case related to the multi-crore scam at the bank.
They revealed their desire to turn approvers when produced before the Special Prevention of Money Laundering Act (PMLA) court in Kochi on December 16 (Saturday). The court is likely to consider the plea on December 21.
The Enforcement Directorate (ED), which is probing the bank fraud estimated to be above ₹300 crore, had earlier quoted the statements of the two key accused to establish that the local leadership of the Communist Party of India (Marxist) [CPI(M)] was aware of the scam.
The duo had reportedly stated that the local leadership of the CPI(M) in Thrissur had maintained separate minutes for the loans sanctioned from the bank. They had allegedly told the investigating agency that the policy matters and sanctioning of loans were controlled by “the political subcommittee and the party parliamentary committee.” They had stated that illegal loans were sanctioned to various people on the directives of high-profile leaders of the CPI(M).
These allegations had figured in the provisional order issued by the Kochi office of the ED while attaching assets worth ₹57.75 crore belonging to a few individuals in connection with the fraud case. The illegal loans were taken by the accused in cash in connivance with the officials and board members of the bank. Mr. Biju had allegedly sanctioned loans in the name of his family members and friends.
Majority of such loans were sanctioned by mortgaging a single property. It was also revealed that loans were sanctioned under fake names. Mr. Kumar had misused his position to sanction illegal loans to non-member ‘benamis’. His father had sought an investigation into the involvement of CPI(M) leaders A.C. Moideen and C.K. Chandran in the scam.
