PAYYANNUR: In a major embarrassment for the CPM, fresh bank documents have surfaced in the Payyannur Martyr Fund embezzlement case, contradicting the party’s earlier claims. Former Area Secretary V. Kunhikrishnan released records showing that ₹40 lakh, collected to support the family of slain activist Dhanaraj, was kept as fixed deposits (FD) in the personal names of senior party leaders.
According to the documents, the funds were deposited in the names of leaders T.I. Madhusudanan and K.P. Madhu at the Payyannur Railway Gate branch on November 3, 2016. The money remained in these private accounts for two years until internal disputes forced its return. However, Kunhikrishnan alleges that while the principal amount was eventually moved back, the leaders pocketed the interest earned during those two years.
He further claimed that an additional ₹5 lakh was misappropriated by an area secretary for personal use, supported by falsified construction records. The timing of these revelations, coinciding with the election season, has put the CPM leadership on the defensive. (KN)
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