In the ongoing investigation by the Enforcement Directorate (ED) into the Karuvannur Bank money laundering case, a significant development has occurred as the probe enters its second phase. The district secretary of the Communist Party of India (Marxist) or CPM in Thrissur, M M Varghese, has been summoned for questioning on November 25. The ED issued a notice to Varghese in this regard on Tuesday. ED investigators had initially reached out to Varghese to determine a suitable date for his interrogation, taking into account his prior commitments, including participation in a state-level seminar in the coming weeks. In light of this, the investigation team has scheduled his questioning for November 25. The notice was dispatched via postal mail, and a digital copy was sent via email. The ED is currently awaiting Varghese’s response to the letter.
According to ED sources, Varghese’s interrogation is primarily focused on his connection with P R Aravindakshan, a CPM councilor from the Wadakkancherry Municipality who was arrested by the ED in September. During the initial phase of the investigation, several witnesses provided statements to the ED, suggesting the involvement of CPM district leadership in the Karuvannur Bank scam. ED officials suspect that the CPM leadership was cognizant of the fraudulent activities but failed to take any action to prevent the accused individuals from embezzling funds in the form of loans from the bank. Previously, the ED had questioned other CPM leaders, including MLA A C Moideen, and the Vice-President of the Kerala Bank, M K Kannan, in connection with this case. The ongoing investigation continues to shed light on the alleged misconduct in the Karuvannur Bank scandal, which has become a matter of significant concern.
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