Thrissur: Satheesh Kumar, the key accused in the controversial Karuvannur Cooperative Bank scam laundered money through another co-operative bank in the district, the Enforcement Directorate (ED) has revealed.
The accused deposited unaccounted money worth Rs 40 crore in Ayyanthole Service Co-operative Bank, ED has found out. The agency has frozen five accounts of Satheesh and his family members in this bank.
Manorama News, which aired the ED's findings, said it has reviewed crucial evidence regarding the alleged money laundering.
According to the records, Satheesh had deposited nearly Rs 40 crore in the five bank accounts in the past 10 years. He transferred this amount to other banks in a bid to bring it into the books.
It is alleged that CPM leaders, who were in the administrative panel of the bank, helped Satheesh carry out these transactions. Manorama News reporterd that CPM leader P K Shajan's wife and senior CPM leader Baby John's daughter are employed at the Ayyanthole Service Co-operative Bank.
The ED has sought a detailed report from the bank after freezing accounts operated by Satheesh and his family, the TV channel reported.