The Enforcement Directorate conducted a raid at the residence of former Minister and CPI(M) MLA A.C. Moideen at Thekkumkara, near Wadakkanchery, on Tuesday. The raid was reportedly in connection with the multi-crore loan scam at the Karuvannur Service Cooperative Bank. It was alleged people linked to Mr. Moideen were involved in the scam.
The 12-member ED team reached Mr. Moideen’s house under the protection of armed forces around 7 a.m. The agency reportedly conducted simultaneous raids at the residences of two persons who allegedly had transactions with the accused in the scam. It was alleged that multiple illegal loans were sanctioned to non-member ‘benamis’ by the CPI(M)-controlled bank on the property of a few cooperative society members without their knowledge.
Probe sought
Earlier, Ramakrishnan, father of T.R. Sunil Kumar, former secretary of the bank and an accused in the scam, had demanded an investigation into the involvement of CPI(M) leaders C.K. Chandran and Mr. Moideen in the scam.
On Tuesday, Congress workers took out a march to the house of Mr. Moideen when the ED raid was progressing. The CPI(M) workers stopped the march and there was a minor clash between the groups.
