Latest News | Two More Held in Kerala Cooperative Bank Scam

Thrissur (Ker), Aug 11 (PTI) The Crime Branch wing of the Kerala Police probing the multi-crore scam in the CPI(M)-controlled Karuvannur Co-Operative bank in Thrissur district on Wednesday arrested two more persons in connection with the case, a police officer said here.

The second and third accused, who were arrested today, are suspended employees of the bank, he told PTI.

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The Crime Branch on Monday had arrested the prime accused in the scam. There are six accused in the case and investigation is on to nab three more persons, police said. An alleged loan scam, to the tune of over Rs 100 crore, has been reported in the Karavannur Co-Operative bank following which police registered a case against six bank officials and launched an investigation. After several people including local customers raised apprehensions about the bank's functioning, an audit had been conducted there recently, in which the charges were reportedly found to be true. During the inspection, it was also found that loans were sanctioned on the property pledged by local customers without their knowledge and the loan amount was credited multiple times to the selected accounts. The case was registered against bank officials, including the secretary of the bank, who were already placed under suspension following the allegations.

(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)