Cooperative Society Fraud and KPSC Recruitment Probe Sparks ED Raids
Law enforcement officials executed coordinated raids across eleven locations in Kerala and Chennai on Wednesday, targeting alleged financial misconduct within a cooperative banking entity. The operation stems from a deepening investigation into the society’s management practices and fund allocation strategies.
Authorities have identified R. Premkumar, the founding member and de facto chief executive, as a primary subject. Investigators assert that Premkumar exploited his managerial role to siphon funds meant for general depositors. The money, totaling crores of rupees, was reportedly routed through relatives and his spouse to finance personal expenditures.
During the preliminary phase of the probe, investigators flagged irregular property dealings. The society’s Ragam Theatre was allegedly pledged to Brio Financial Services without any underlying capital or official sanction. Simultaneously, land spanning approximately five hundred acres in Kanchipuram was registered under the owner’s spouse. Agencies are currently compiling seized records to substantiate the financial trail.
The regional political landscape is also marked by an ongoing administrative inquiry. Kerala’s home minister directed a special investigation team to audit the Kerala Public Service Commission over allegations of protocol breaches. The review focuses on the expedited hiring of an SFI figure from Ernakulam to a high-ranking police post.
Accusations suggest the recruitment was accelerated to secure the placement before the current ruling party’s term concluded. RS Shashikumar, representing the Save University Forum, initiated the oversight by filing a formal grievance against the commission’s leadership.
The selection framework accommodated nearly seventeen thousand three hundred ninety-two candidates. Key milestones included a September 10, 2025 application cutoff, a December 31 written evaluation, and a March 16, 2026 physical drill. Following interviews on April 22, the final merit rankings were disclosed on May 6. Crime Branch commander Ajita Begum is currently leading the committee tasked with validating these administrative allegations.