CPI(M) in for long legal battle as ED targets more leaders in bank scam

A strong legal and political battle looms ahead for the CPI(M) as the Enforcement Directorate (ED) moves to implicate more party leaders in the multicrore Karuvannur Service Cooperative Bank scam.

CPI(M) leader P.K. Biju is the latest recipient of an ED notice. The latest notices reportedly pertain to the CPI(M)’s alleged use of cooperative bank accounts to “launder money” of unknown provenance. By some accounts, at least 15 CPI(M) area committee secretaries in Thrissur are under the ED scanner.

The agency appears to be overwhelmingly targeting CPI(M) leaders in Thrissur district, including the party’s district secretary M.M. Varghese and former Minister A.C. Moideen.

CPI(M) charge

The CPI(M)’s district committee in Thrissur pointed out that the ED has focussed on leaders spearheading the LDF’s electoral fight against BJP’s Suresh Gopi and Congress’s K. Muraleedharan in the crucial constituency.

Moreover, Prime Minister Narendra Modi recently brought national attention on the scam by stating that the alleged cooperative banking sector accused would face justice.

CPI(M) State secretary M.V. Govindan denied the ED’s accusation that the party operated secret accounts and misused its heft in the State’s expansive cooperative banking sector.

Meanwhile, the ED has reportedly informed the Election Commission of India that the CPI(M) used such accounts to acquire properties, construct buildings and extend loans to persons nominated by the party.

Oppn. charge

Leader of the Opposition V.D. Satheesan told reporters in Thiruvalla that the CPI(M) operated at least 25 accounts in cooperative banks in Thrissur.

Union Minister of State for External Affairs V. Muraleedharan said all those involved in the scam would be brought to justice.