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Cpm Fears Arrest Of Leaders: Satheesan | – Times of India

Thiruvananthapuram: Opposition leader V D Satheesan has said the CPM was fearing that their senior leaders would get arrested in the Karuvannur bank fraud. “This is the reason why the party leaders and even the LDF ministers are trying to downplay the scam,” he said.
“The local self government minister was seen asking whether the Karuvannur bank fraud was a big issue. He has forgotten the fact that many people invested their savings of life in that bank. The minister is not with the people who have lost their money but with the looters,” he said.
“The Karuvannur bank fraud is the biggest fraud the state has seen. Many such cooperative banks in Thrissur district are facing allegations of similar frauds. A total of Rs 500 crore has been looted by the Karuvannur bank management. All this has happened with the knowledge of the top leadership of the CPM,” Satheesan added.
He said the CPM was scared that many of their bigwigs would go behind the bars. “This is the reason why many leaders have started coming forward understating the fraud. The CPM has sabotaged the cooperative bank sector by engaging in such unhealthy practices,” Satheesan said.
The CPM was aware of the bank fraud since 2011 and the party has been protecting the leaders involved in it since then. When there was a complaint, innocent people were framed in false cases and leaders were saved. Satheesan said the chief minister and the party secretary should clarify whether they support the view of speaker A N Shamseer who said Karuvannur is a black spot on the face of the cooperative movement. The Karuvannur scam should be probed thoroughly and investors’ money should be returned as early as possible, he said.
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