Kochi. In the Karuvannur Cooperative Bank fraud case, the accused got 25 crores. The Enforcement Directorate has stated in the High Court that it is directly and indirectly involved in the laundering of crores of black money. The explanation of the ED in the High Court was while considering the bail application of the accused PR Aravindakshan, P Satishkumar and CK Jills in the case.
The middleman Satish Kumar has received at least Rs 25 crore through illegal loans etc. through the prime accused Kiran. The ED said that Rs 14 crore was handed over to other accused and they knew that this money was not legal.
ED argued in the court that there was an attempt to establish that this amount was not black money and it should be treated as a crime against the country. Additional Solicitor General Lekshman Sundaresan, appearing for the ED, argued that the actions of the accused were criminal under the Prevention of Money Laundering Act. However, the accused argued that the claims of the ED cannot be accepted in view of the statement of the co-accused.
