An Enforcement Directorate (ED) raid on Ayyanthole Service Cooperative Bank that began on Monday morning concluded by 8.30 a.m. on Tuesday, lasting 25 hours.
The agency reportedly examined the accounts of Satheesh Kumar, key accused in the Karuvannur Service Cooperative Bank loan scam, his relatives, and ‘benamis’ in the Ayyanthole bank.
N. Raveendranathan, president of the Ayyanthole bank, said all accounts of Mr. Satheesh Kumar were examined. There was no need for investors to panic about the ED raid, he said.
The ED also examined the accounts of people who were introduced to the bank by Mr. Satheesh Kumar. All documents related to these accounts were handed over to the ED, Mr. Raveendranathan said.
The ED raided the Ayyanthole bank on the information that Mr. Satheesh Kumar laundered black money through the bank. It was reported that he laundered ₹500 crore through various accounts, including that of his relatives. All these accounts were frozen by the ED. Multiple transactions were conducted on the same day through these accounts.
Meanwhile, a 17-hour-long raid on Thrissur Service Cooperative Bank ended at 2 a.m. on Tuesday. The raid was conducted in the presence of Communist Party of India (Marxist) leader M.K. Kannan, president of the Thrissur bank and vice-president of Kerala Bank. “The raid will be tackled politically and legally,” Mr. Kannan said.
“The ED examined the account details of Satheesh Kumar and the agency has taken details of 5,000-odd accounts,” he said. Mr. Satheesh Kumar had only small accounts in the Thrissur bank, he added.
There are reports that more people will be questioned in connection with the Karuvannur bank loan scam in the coming days.
Meanwhile, former Minister A.C. Moideen informed the ED about his inconvenience to appear before it for questioning on Tuesday.
