ED arrests expelled CPI member, son in Kerala bank fraud case

NewsDrum Desk
New Update

Kochi, Nov 21 (PTI) Expelled Kerala CPI leader N Bhasurangan and his son Akhiljith were arrested by the Enforcement Directorate on Tuesday in a money laundering case linked to an alleged cooperative bank fraud case, official sources said.

The two were taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA) following questioning at the agency's office here in the Kandala Services Cooperative Bank alleged fraud case.

The federal agency had conducted raids in the case early this month after which, Bhasurangan, a local CPI leader, was expelled by the Leftist party.

It is suspected by the ED that funds to the tune of more than Rs 100 crore were allegedly siphoned off from the bank when Bhasurangan was at the helm of affairs at the cooperative lender. PTI NES TGB VN VN