Leader of the Opposition V.D. Satheesan has accused the Communist Party of India (Marxist) [CPI(M)] of destroying the credibility of the cooperative movement in Kerala by shielding those behind the scams to the tune of ₹500 crore at various cooperative banks in the State.
“The loan scam at the Karuvannur Service Cooperative bank in Thrissur has been the biggest extortion racket in the history of the State with the connivance of the CPI(M) leadership since 2011. In a bid to protect the scamsters, the party foisted false cases on innocents,” he said.
Rajesh’s remarks
Referring to Local Self-Governments Minister M.B. Rajesh’s statement that the Karuvannur bank scam was nothing compared to that in public sector banks, Mr. Satheesan said it was slap on the face of depositors who had lost their precious savings. Mr. Rajesh had made it clear that the government was with the scamsters and not the victims.
He also sought the reaction of the CPI(M) and the government to Speaker A.N. Shamseer’s observation that the Karuvannur bank scam was a blot on the cooperative sector in the State.
Demanding a thorough inquiry into the scam, Mr. Satheesan said that the United Democratic Front (UDF) would intensify its agitation on the issue. He also urged the government to compensate the victims at the earliest.
