A year on, no charge sheet in Karuvannur Bank loan scam case


MB Babu

Karuvannur bank | Photo: Mathrubhumi

Thrissur: The police case registered over alleged multi-crore bank loan scam case at CPM-led Karuvannur Service Cooperative Bank here has marked its first anniversary on July 14, 2022, yet the probe team has not filed a charge sheet.

The only significant development in the case is that 11 governing body members and six middlemen, including employees, were arrested. Among them, one employee and bank governing body member are out on bail. Also, the 16 cooperative sector officials who were suspended over the case have been reinstated into service.

At present, the Crime Branch is probing the case. Sources claim that complexity of the case is the reason why procedures are prolonging. The ordeal of customers who fall prey to the scam continues.

Reports said the scam is worth Rs 312.71 crore. Around 11,000 individuals are affected including an expat who invested Rs 24 lakh with the bank from the hard earned money he made through his 19-year long expat life. Almost all of them have lost hopes.

It is learnt that most of the affected used to invest their pension money with the bank. They are even finding it difficult to manage money for buying medicines.

The state government had announced a consortium for relief. It also assured that no one will loss a single penny. However, the affected investors have not got any relief.


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