Thrissur, Kerala:

The Enforcement Directorate (ED) on Wednesday performed raids at places connected to the accused within the Rs 300 crore Karuvannur Cooperative financial institution rip-off, which caused a political row in Kerala not too long ago.

Sources within the ED informed PTI that searches have been carried out concurrently on the apartments of all of the 5 accused in Kerala’s Thrissur district.

“The officers from the ED unit in Kochi carried out the searches and different main points can’t be divulged presently,” they mentioned.

The motion comes at a time when the agitated depositors are on a warpath towards the control of the ruling CPI(M)-controlled Karuvannur Cooperative financial institution, positioned at Irinjalakuda, not easy go back in their funding.

The Opposition Congress had not too long ago steered Chief Minister Pinarayi Vijayan handy over the investigation into the Cooperative financial institution rip-off to CBI, alleging that there used to be no longer a lot development within the ongoing probe by way of the state companies.

After a short lived period, the financial institution once more sparked an issue closing month over the dying of a girl depositor, whose circle of relatives had alleged that she used to be denied cash for complicated remedy by way of the control regardless of having lakhs of rupees as deposit within the financial institution.

They additionally staged a protest sit-in in entrance of the financial institution with the lady’s frame, following which opposition events got here out towards the ruling CPI(M) which controls the financial institution.

The mortgage rip-off used to be reported within the financial institution, positioned in Thrissur district, in July 2021, following which a case used to be registered towards six financial institution officers and an inquiry introduced.

After a number of other folks together with native consumers raised apprehensions in regards to the financial institution’s functioning, an audit used to be carried out there not too long ago, wherein the fees have been reportedly discovered to be true.

During the inspection, it used to be additionally discovered that loans have been sanctioned at the belongings pledged by way of native consumers with out their wisdom and the mortgage quantity used to be credited a couple of instances to the make a choice account.

Following allegations, the 13-member committee of the Marxist party-ruled financial institution used to be disbanded.

(Except for the headline, this tale has no longer been edited by way of NDTV team of workers and is revealed from a syndicated feed.)