Kochi: Misconduct and money laundering is not our cup of tea Says CPM, while after, The Enforcement Directorate (ED) had seized a land parcel in Kerala and bank deposits totaling Rs 73 lakh, belonging to the CPM, as part of a money laundering investigation tied to the Karuvannur Service Cooperative Bank scam, according to official sources on Saturday.
As a result of the provisional order issued under the Prevention of Money Laundering Act (PMLA) to attach these assets, the seized properties include a land parcel worth Rs 10 lakh in Thrissur district and Rs 63 lakh in deposits across five bank accounts associated with the political party, found wrapped up. The CPM defying it as a political move, narrated ED’s allegation as unearthly to fight any action by the agency both legally and politically about the alleged multi-crore Karuvannur bank scam.
Described it to be a political ambush, state secretary MV Govindan said, ED was trying to accuse CPM to fall prey for unhealthy political conspiracy.
He said the ED was mistaken in believing that the land parcel seized was intended for the CPI(M) party office and was purchased with alleged kickbacks from the borrowers or beneficiaries of loans sanctioned by the Karuvannur Service Cooperative Bank.
