Probe reveals ₹10-crore alleged fraud at CPI(M)-controlled Thopramkudy Co-operative Bank in Idukki
A probe has uncovered a ₹10-crore financial fraud at the CPI(M)-controlled Thopramkudy Co-operative Bank in Idukki, Kerala. Police have registered a case against 13 individuals, including former bank officials and staff, for allegedly sanctioning loans using fictitious names.
Why it matters
The incident highlights systemic corruption risks in politically-controlled financial institutions and the potential loss of life savings for depositors.
A probe by the Idukki Cooperation department has allegedly unearthed financial irregularities worth over ₹10 crore at the Communist Party of India (Marxist) [CPI(M)]-controlled Thopramkudy Co-operative Bank, near Cheruthoni. Following a complaint filed by the Idukki Joint Registrar of Co-operative Societies, the Murikkassery police registered a case against 13 people, including the bank’s former president, secretary, and other officials.
The alleged fraud was uncovered during an investigation conducted by Jaimon A.V., a unit Inspector with the Cooperation department. Among those booked are the bank’s secretary Sunitha Kumari, former president Shine Thomas, junior clerk Ammini Madhavan, senior clerk Vishnu Mohan, and nine temporary staff members attached to the co-operative bank.
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