Thrissur: Two more persons have been arrested in the Karuvannur Service Co-operative Bank loan fraud case. Biju Kareem, the manager, and CK Jeans, the chief accountant, were arrested. He was arrested in connection with a Rs 100 crore loan scam in a bank. They swindled the money by re-mortgaging the credentials of the bank borrowers.
The money was borrowed from the blade mafia in the city. The crime branch also found that Rs 14 crore had been taken from the bank for giving the interest to the blade mafia. There are indications that the money was taken from the moneylenders to make up for the setbacks in the real estate and resort businesses, which were carried out with money robbed from the bank.
Former secretary Sunil Kumar was arrested yesterday. With this, the number of those arrested has tripled. Three are absconding.
After rejecting their anticipatory bail application in the case, they informed that they can cooperate with the crime branch. This was followed by an arrest.
