Wayanad: The Enforcement Directorate (ED) on Friday raided Pulpally Cooperative Bank in Kalpetta in light of the loan fraud case here.

Last week, the Kerala police had arrested former bank president K K Abraham and bank secretary K T Ramadevi in connection with the suicide of Rajendran Nair, the complainant in a loan fraud case pertaining to the Pulpally bank.

According to reports, ED raids were also held at four other places including the residence of former KPCC general secretary KK Abraham in Pulpally.

The inspection is being conducted by a team of six officials. ED had registered a case related to loan fraud in the bank. It is indicated that the raid is part of the investigation in the case.

K K Abraham, who is the prime accused in the alleged loan fraud at the Pulpally Cooperative Bank, is currently on remand in Mananthavadi prison.

There are 10 people named in the charge-sheet, including the president, some members of the administration, and employees of the bank.

Rajendran Nair was found dead in his field allegedly after consuming poison. As per bank records, Nair took a loan of Rs 25 lakh by pledging his land. However, he had claimed that he had only taken Rs 80,000 from the bank.

T S Kurian, a former vice president of the bank's governing body alleged that Rs 25 lakh was taken as a loan in Rajendran's name using his forged signature. He claimed the former president and his assistant committed the fraud.