KT Jaleel | Photo: Ajith Sankaran| Mathrubhumi
Malappuram: MLA KT Jaleel on Monday came up with more allegations against Muslim League leader PK Kunhalikutty. He pointed out that the investigation report revealed black money transactions worth Rs 1,021 crore took place in the Malappuram AR Nagar Co-operative Bank in the last 10 years alone.
Jaleel said that Kunhalikutty was the kingpin of the scam and demanded that he should recover the huge losses incurred by the bank. Kunhalikutty and his team converted the bank into their Swiss Bank in Kerala, Jaleel alleged.
“AR Nagar Co-operative Bank, which is only a primary co-operative society, has over 50,000 members and over 80,000 accounts. Kunhalikutty and Harikumar have created 862 fake accounts out of 257 customer IDs for money laundering and black money transactions. VK Harikumar forged 862 fake benami accounts for Kunhalikutty,” Jaleel alleged.
According to the reports, 114 crore illegal transactions have taken place in the last 10 years alone. The examination of the 257 customer IDs seized during the raid conducted by the Income Tax Department revealed that transactions of large amounts of black money.
A case is also pending in connection with the corruption in the public sector undertaking Titanium when Kunhalikutty and Ibrahim Kunju were the ministers. A quick look at the date and year reveals that the money earned through the Travancore Titanium Products scam must have been kept in the fake accounts at the AR Nagar Co-operative Bank. The money raised through financial irregularities in Malabar cement and KMML may be deposited in this bank, he further alleged.
Rs 3 crore was deposited by Kunhalikutty's son in AR Nagar Bank violating Foreign Exchange Management Act is being probed by the RBI. The investigation report includes shocking details of the illegal loans granted to former Tanur MLA and League state vice-president Abdul Rahman Randathani and several other leaders.
The probe team also found that customer addresses were widely erased and tampered on the bank's computer software. According to the report, 12 employees of the bank also have illegal deposits of Rs 6.8 crore.
Harikumar and other officials from AR Nagar Bank also tried to stop the officers who came to investigate on the account details of the gold smuggling under the instructions of the Thiruvananthapuram Deputy Commissioner of Customs. All the transactions in AR Nagar Bank have been done violating Income Tax Act 269T, which was introduced to curb the transactions of black money in the country.
According to the investigation report, the bank has transacted Rs 1,021 crore in the last 10 years alone. A gold loan scam of Rs 2.5 crore took place in the bank during 2012-13. Also, League State Vice President VK Abdul Qadir Moulavi alone has about Rs 2 crore in different accounts with different customer IDs.
The bank would normally have to pay a fine of Rs 1,021 crore, which was found to be a transaction against the Income Tax Act. However, this will lead to the collapse of the bank. The majority of the 50,000 members of the bank are regular members and followers of the Muslim league. Jaleel also demanded that the state government intervene to save the bank by recovering Rs 1,021 crore in fines from Kunhalikutty, Harikumar and other league leaders who are involved in this scam.