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.
