Kasaragod: Three persons, including a member of the Indian Union Muslim League (IUML), were arrested in connection with the multi-crore fraud at the Karadka Agriculturist Welfare Cooperative Society, which is ruled by the Communist Party of India (CPM). 

The accused are identified as Anil Kumar (55), Abdul Gafoor (26), and IUML leader Ahmed Basheer (66), who is a panchayat member. K. Ratheeshan, the secretary of the society and the prime accused in the case, is currently absconding. 

The investigation revealed that Ratheeshan and his accomplices deceived the society's governing committee and members, resulting in a huge financial loss. The accused took gold loans in the names of several members without any collateral. The irregularities amounting to Rs 4.76 crore were discovered at the society.

The crime branch team apprehended the three accused at a lodge in Bengaluru. According to the investigating team, a real estate mafia is behind the alleged fraud worth crores. During questioning, it has also come to light that the gold embezzled by Ratheeshan from the society was taken and pawned by the co-accused in another bank.

Basheer also runs a travel and tourism agency. The probe team also received evidence suggesting that Ratheeshan transferred Rs 42 lakh from the Kerala Bank to Basheer's account in a private bank in Thrissur on February 12 and March 11. 

The authorities are continuing their investigation, focusing on the whereabouts of Ratheeshan, who is believed to be hiding in various locations across Karnataka. The case is being probed by DySP Shibu Pappachan of the district crime branch.