Kerala: ED attaches land, bank deposits of CPI(M) in money laundering case

Kochi: The Enforcement Directorate has attached a land parcel in Kerala and bank deposits worth Rs 73 lakh allegedly belonging to the CPI(M) as part of an ongoing money laundering probe linked to the Karuvannur Service Cooperative Bank “scam”, official sources said on Saturday.

The CPI(M) vehemently denied charges of wrongdoing and money laundering.

A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued for attaching these assets, the sources said.

The attached properties include a land parcel worth Rs 10 lakh in Kerala’s Thrissur district and Rs 63 lakh deposits kept in five “undisclosed” bank accounts of the political party, they said.

The CPI(M) rejected the ED charges, saying it would legally and politically fight any move by the agency to arraign it in the case linked to the alleged multi-crore Karuvannur bank scam.

Party state secretary M V Govindan alleged the ED was trying to make opposition parties and their leaders accused in various cases due to political reasons.

He also accused the central agency of attempting to create a smokescreen as it had failed to collect any evidence against the party.

The ED believes that the land parcel attached by it was meant for the CPI(M) party office and was purchased using alleged kickbacks from the loanees or beneficiaries of the loans sanctioned by the Karuvannur Service Cooperative Bank.

The agency has relied on the “confessional” statements of at least two accused in this case who claimed in their statements recorded before a judicial magistrate that the purported irregularities in the bank were orchestrated at the behest of CPI(M) Thrissur district committee leaders.


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