Pulpalli cooperative bank fraud: LDF organises protest march

The protest march organised by the LDF to the Primary Cooperative Bank, Pulppalli, in connection with the 'fake loan scam' on Wednesday. Photo: Special Arrangement

Wayanad: The LDF district committee on Wednesday organised a protest march to the Congress-run Primary Cooperative Bank at Pulpalli. The bank is in the eye of a controversy facing multiple investigations after a ‘fake loan scam’ rocked the district.

The protestors demanded a ‘write off’ of the ‘fake loans’ availed by alleged 'fraudsters' in the name of the victims, returning the land documents of late Rajendran Nair, a victim of the aforesaid fraud who died by suicide, giving a job to at least one person from Nair's family at the bank alongside the arrest of all the accused.

Hundreds of workers participated in the protest march that began from the Azheekkodan Memorial Building and culminated at the front of the bank in question. CPM district secretary P Gagarin inaugurated the march. Kerala Congress (J) state secretary K J Devasya presided over. LDF district convener C K Saseendran was in attendance too.

A special investigation team of police arrested former Kerala Pradesh Congress Committee (KPCC) general secretary K K Abraham and former secretary of the cooperative bank K T Remadevi in connection with the ‘Rs 25-lakh loan fraud' on May 31.

Despite complaints against the bank, the fraud came to light only after the recent suicide of Nair (60) at Pulpalli, who died by consuming poison, in protest against 'the bank authorities failure to act on his complaints regarding the fraud.'

Though the farmer had availed a loan only for an amount of Rs 80,000, going by its records, the bank issued a revenue recovery notice to Nair for an amount of Rs 25 lakh.

Meanwhile, the convener of the public action committee against the 'fake loan fraud' V S Chacko told Onmanorama that if CPM-led LDF had organised such a protest a month ago, perhaps Nair's life could have been saved.

“The local leaders of LDF were supporting anti-social elements who were trying to torpedo the agitation of the action council when we had conducted our months-long indefinite hunger strike against the fraudsters in front of the bank,” he said.

“I hope the newfound zest of LDF would help save the life of all victims,” he added. 

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