ED attaches assets worth 30.70 crore in Karuvannur bank fraud case1 min read . Updated: 05 Dec 2022, 08:49 PM IST
- The Karuvannur Service Co-Operative Bank is also under the scrutiny of the Registrar of Co-Operative Societies in Thiruvananthapuram
The Enforcement Directorate on Monday attached assets worth ₹30.70 crores of Bijoy AK, Commission Agent of Karuvannur Service Co-operative Bank Ltd under the Prevention of Money Laundering Act (PMLA), 2002 in a fraud and cheating case. The agency claimed that the accused illegally sanctioned and disbursed a loan to the tune of Rs. 26.60 Crore in cash without any collateral due to a "systematic conspiracy".
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