HomeNewsKerala NewsKaruvannur bank scam: Govt says CBI probe not needed

Karuvannur bank scam: Govt says CBI probe not needed

kerala high court23 - Kerala9.com

Kochi: The government has informed the high court that there is no need for a CBI probe in the Karuvannur bank loan fraud case. The government said in an affidavit that the crime branch investigation was progressing and there was no evidence that the embezzled money was used by the accused for land sale or anti-government activities.

The government has taken a stand on a petition filed by MV Suresh, a former employee of the bank, seeking an inquiry into the alleged fraud of Rs 300 crore in the bank and that no complaint or action has been taken against him.

The government said in an affidavit that the probe was being conducted in two directions. It is being investigated as to which officials committed the irregularities and their role in the scam. It checks how much money has been identified and what it was used for. The investigation is not limited to the initial information report. It also extends to those who are skeptical about contacting the bank.

The fact that the accused and the bank have links with a political party is not a reason to change the investigating agency. This relationship does not affect the investigation. There will be no political interference. Enforcement is investigating whether the accused laundered money.

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