The Enforcement Directorate (ED) carried out a series of raids as part of the investigation into the loan fraud case at Pulpally Cooperative Bank. One of the targets was the bank itself, located in Kalpetta. The recent arrest of former bank president K K Abraham and bank secretary K T Ramadevi, in connection with the suicide of Rajendran Nair, has added urgency to the probe. The ED also conducted searches at four other locations, including the residence of former KPCC general secretary KK Abraham in Pulpally. The inspection involves a team of six officials and is linked to the ongoing investigation into the loan fraud case.
Currently, K K Abraham, who is considered the prime accused in the alleged loan fraud at Pulpally Cooperative Bank, is in custody at Mananthavadi prison. The charge-sheet names a total of 10 individuals, including the bank’s president, several members of the administration, and bank employees. The tragic death of Rajendran Nair, who was found deceased in his field after allegedly consuming poison, is central to the case. While bank records indicate a loan of Rs 25 lakh in Nair’s name, he claimed to have only borrowed Rs 80,000. T S Kurian, a former vice president of the bank’s governing body, has come forward with allegations that the loan was secured through a forged signature and blames the former bank president and his assistant for the fraudulent activity. The ED raids are part of the ongoing efforts to uncover the truth behind this intricate loan fraud case at Pulpally Cooperative Bank.
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