India News | ED Arrests Expelled CPI Member, Son in Kerala Bank Fraud Case
Get latest articles and stories on India at LatestLY. Expelled Kerala CPI leader N Bhasurangan and his son Akhiljith were arrested by the Enforcement Directorate on Tuesday in a money laundering case linked to an alleged cooperative bank fraud case, official sources said.
Kochi, Nov 21 (PTI) Expelled Kerala CPI leader N Bhasurangan and his son Akhiljith were arrested by the Enforcement Directorate on Tuesday in a money laundering case linked to an alleged cooperative bank fraud case, official sources said.
The two were taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) following questioning at the agency's office here in the Kandala Services Cooperative Bank alleged fraud case.
The federal agency had conducted raids in the case early this month after which, Bhasurangan, a local CPI leader, was expelled by the Leftist party.
It is suspected by the ED that funds to the tune of more than Rs 100 crore were allegedly siphoned off from the bank when Bhasurangan was at the helm of affairs at the cooperative lender.
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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)