Thrissur: Enforcement Directorate (ED) sleuths from Kochi raided the house of former minister and Kunnamkulam MLA A C Moideen on Tuesday.
As per reports, the raid was held in connection with the Rs 200-crore bank fraud uncovered in Thrissur’s Karuvannur Cooperative Bank.
The federal agency is covering about half a dozen premises in the state as part of the action being undertaken as per the provisions of the Prevention of Money Laundering Act (PMLA), they said.
The premises of Moideen, a former minister of local self-government, and those linked to him are being searched for evidence of gathering details of "benami" assets, the sources said.
The case pertains to the ED's probe that on the instructions of CPM district-level leaders and committee members who governed the bank, loans were allegedly disbursed "in cash" to non-member benamis by mortgaging properties of poor members without their knowledge and laundered to the benefit of the accused.
The agency suspects many such "benami" loans were disbursed, allegedly on the instructions of Moideen.
(With PTI inputs)
