Thrissur: CPM Kerala is now in deep crisis following the arrest of prominent leader by the ED on money laundering charges linked with the Karuvannur cooperative bank.

Here are the reasons why the communist party is finding itself in a spot of bother

  • PR Aravindakshan who was arrested by the ED yesterday is widely regarded as the second most prominent CPM leader in the Wadakkanchery region after AC Moideen. Until yesterday, the party leadership was of the opinion that the Enforcement Directorate was aiding political vendetta, and had accused the investigation agency of not having strong evidence by its side. They had even alleged the whole scenario as a calculated attack on the co-op sector by the central government. With arrest on Tuesday, things have turned upside down for the communist party.
  • The party’s attempts to sweep the fraud under the carpet using the crime branch and investigating officers in the department of cooperation has proved inadequate. However, the raid conducted at AC Moideen’s residence proved a turning point in the case.
  • The 22-hour-long raid at AC Moideen’s residence was conducted owing to his alleged relations with Velappaya Satheesan. Moideen was repeatedly summoned to the ED office for interrogation as well. In the remand report submitted by the ED at the court, it is clearly mentioned that Satheesan is the benami of a former MP.
  • Anoop Davis Kada, who is the Thrissur Corporation Councillor and also a member of the CPM Thrissur area committee, along with CPM Athani local committee member PR Aravindakshan, who is also a standing committee member in the Wadakkanchery municipal council, were both questioned by the ED for their alleged role in the multi-crore scam. CPM state committee member MK Kannan was questioned following this. Aravindakshan was arrested yesterday. The party now finds itself in a major dilemma. It can’t abandon Aravindakashan, if it chooses to do so, the cover for Moideen and MK Kannan will come crashing down.
  • The plight of depositors in the bank is really pathetic. CPM fears major public outrage. Paying back the depositors is the only way forward.