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It is learnt that police officials in high ranks have given money to Satheesh Kumar, the key accused in the fraud case.
Early this week, the ED arrested two persons P Satheesh Kumar and P Kiran regarding the same case.
There were allegations that Satheesh was the benami of former minister and current legislator AC Moideen and Kiran had reportedly swindled Rs 22 crore from the bank.
Sources said that Moideen would appear before the ED only after the Puthuppally byelection.
The ED had sent a notice by Speed Post on August 25, asking Moideen to present himself for a detailed questioning at the agency’s office over the fraud case
Investigation team received evidence pointing to direct links between the suspects and the former minister, a source said.
Earlier, ED officials raided the houses of Moideen and other accused on the basis of the provisions of the Prevention of Money Laundering Act, 2002
Earlier, Moideen had explained to the party that ED officers had recovered no incriminating documents during the raid conducted by them at his residence.
The case is linked to the alleged Rs 150 crore fraud in the party-controlled Karuvannur cooperative bank.
Akkara further alleged that Moideen has invested Rs 29 crore as 'benami' and demanded a thorough investigation into the investment of Moideen and his benami transactions.