Kochi, Sept 9 The Enforcement Directorate (ED) has summoned the former Lok Sabha member P.K Biju in the Karuvannur Service Cooperative Bank Ltd case.
Early this week, the ED arrested two persons P.Satheesh Kumar and P. Kiran regarding the same case.
“Kumar is the mentor of Biju and like Moideen, Biju also has an equal role in the scam. Kumar was the biggest source of finance for Biju,” former Congress legislator Anil Akkara to the media.
Moideen has been served a third notice by ED. He has been asked to appear at the ED office here on Monday.
ED has said that Rs 150 crore has been siphoned off from Karuvannur Service Cooperative Bank Ltd in Trissur.
The investigation has also revealed that on the instruction of certain persons loans were disbursed by the bank manager through the agent in cash to "non-member benamis" by mortgaging properties of not so well-off individuals without their knowledge.
It has come to light that many "benami loans" were disbursed on the instructions of Moideen.
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