Enforcement Directorate probes alleged loan fraud in Trissur, Ernakulam and Kozhikode

The Enforcement Directorate intensified its anti‑money‑laundering drive on Wednesday with simultaneous raids in three Kerala districts. The operation focused on cooperative banks suspected of facilitating large‑scale loan fraud and illicit fund transfers.

Starting early in the morning, ED officials from Kerala and Tamil Nadu inspected the Angamali Urban Cooperative Bank in Ernakulam, the Kuttanellur Service Cooperative Bank in Trissur and the Thennal Service Cooperative Bank in Kozhikode. They also searched the homes of several board members, former managers and other individuals tied to the banks.

Earlier inquiries had highlighted a possible ₹121 crore fraud at Angamali Urban Cooperative Bank, allegedly carried out through falsified loan applications. The residence of Shiju, a former accountant implicated in the scheme, was also raided.

In Trissur, five locations – among them branches at Encherichira, West Encheri and Padavarad – were examined, together with the residences of the ex‑chairman and board members. Meanwhile, seven sites related to Thennal Service Cooperative Bank in Kozhikode were searched. The ED expects to analyze loan files, transaction records and related documents to determine the scope of any illegal activity.