The Enforcement Directorate (ED) has launched coordinated raids across various locations in Thrissur, Ernakulam, and Kozhikode districts in connection with financial irregularities in cooperative banks across the state. The surprise inspections began early this morning based on a case registered under the Prevention of Money Laundering Act.
In Ernakulam, the ED is conducting searches at four locations linked to the Angamaly Urban Co-operative Bank case. The agency had previously uncovered irregularities amounting to ₹121 crore through fraudulent loans at the bank, and the current action is a continuation of that probe.
Meanwhile, searches are underway at five locations in Thrissur district. The ED teams are inspecting the residences and establishments of bank managing committee members, former office-bearers, and senior employees.
For more details: Navamalayalam.com