Karuvannur bank fraud case: CPI(M) leaders AC Moideen, K Radhakrishnan and MM Varghese appear in PMLA court

File image of Karuvannur Service Cooperative Bank in Thrissur. | Photo credit: KK Najeeb

CPI(M) MLA AC Moideen, K. Radhakrishnan, MP and former Thrissur district secretary MM Varghese, all accused in the money laundering case related to Karuvannur Service Cooperative Bank in Thrissur, Kerala, appeared before the Special Anti-Money Laundering (PMLA) Court in Kochi on Saturday.

The court accepted the supplementary chargesheet filed by the Enforcement Directorate (ED) against 28 accused, including the CPI(M) and several of its leaders, in the June 6 case. Eight of them appeared in court and secured bail, a legal procedure. The CPI(M) leaders, among other accused, filed objections, contending that the allegations in the complaint were insufficient to make them liable for an offense under Section 4 of the PMLA. The case will be heard further on July 21. The CPI(M), represented by Thrissur district secretary, is also another accused no. 68. The Registrar is likely to appear during the next hearing.

Mr. Radhakrishnan told the media that it was an attempt to destroy the CPI(M). They were targeted because they were CPI(M) functionaries and not because they had done anything wrong. He said that the District Secretary’s appearance at the next meeting will be discussed with the lawyer.

Of the total 83 accused in the case, two have turned approvers while two others have died. The ED has so far attached properties and assets worth ₹128 crore in connection with the case. The trial of the case is likely to begin soon.

The ED filed its first chargesheet against 55 accused in the Karuvannur loan scam case on November 1, 2023. In May last year, the agency filed a supplementary chargesheet against 28 more accused.

The special public prosecutor objected that the supplementary complaint and the documents submitted with it are sufficient for proceedings against the other accused with numbers 56 to 83. The objections raised by the proposed other accused related to the substance of the matter, which did not need to be assessed in detail at this stage. “There are absolutely no reasons to disbelieve or reject the allegations made in the complaint and the supporting documents.”

The Special Public Prosecutor further contended that “CPI(M) District Committee, Thrissur is an association of members and as such it has to be treated as a society as defined in Section 70 of the PML Act, 2002.

Published – 04 Jul 2026 16:17 IST