On Tuesday, the Enforcement Directorate arrested former CPI leader N Bhasurangan and his son Akhiljith following a 10-hour-long interrogation related to financial irregularities in Thiruvananthapuram’s Kandala Service Co-operative Bank. According to Manorama News, the central agency took the duo into custody after discovering inconsistencies in their statements. N Bhasurangan, the former president of Kandala Service Co-operative Bank, and his son were summoned to the ED office in Kochi for the third time on Tuesday, where officials expressed concerns about their assets after the interrogation.
Sources close to the Enforcement Directorate revealed that Akhiljith had borrowed over Rs 1 crore from the bank on eight occasions, while Bhasurangan secured a loan exceeding Rs 3.20 crore by pledging a document for his 16-cent land. Despite borrowing significant amounts, the father and son allegedly failed to repay any of the funds. In addition to the ED, the Crime Branch is conducting its own investigation into the fraud case.
Facing charges in the fraud case, Bhasurangan was expelled from the CPI, which accused him of leveraging his close ties with top CPI and CPM leaders to orchestrate the substantial fraud. Allegations also circulate that Bhasurangan made monthly payments to these leaders in exchange for their alleged complicity in the matter.
Post Your Comments