Enforcement Directorate is conducting raids at Karuvannur Service Cooperative Bank Ltd and a few other locations of four accused in connection with a bank fraud case in Thrissur.
According to the reports, the bank's secretary and the staff siphoned off over Rs 100 crore using title deeds submitted by the loan applicants.
The case got media attention after TM Mukundan, a former Panchayat member died by suicide last year when he received foreclosure notice for recovering the money he never borrowed.
The police had registered a case in fraud case at CPM-led bank. The Crime Branch is currently investigating the case.
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