Former CPI(M) MP from Alathur, P.K. Biju, faced questioning by the Enforcement Directorate (ED) in the Karuvannur Service Cooperative Bank money-laundering case on April 4. Biju, a member of the CPI(M) State secretariat, is the third prominent party leader to be implicated in the multi-crore loan scam. Despite being questioned, Biju stated that the agency didn’t request the report prepared by a CPI(M) committee investigating irregularities in the bank.
The ED previously alleged links between Biju and a financier arrested in connection with the scam, but Biju vehemently denied any involvement. The scandal involves an estimated ₹350 crore in siphoned funds, leading to significant losses for numerous depositors as the bank faced financial distress.