Thrissur: The Crance Crance (CB) team investigates the fraud allegedly in the Karuvannur Cooperative Bank has been expanded, and the government has shiny newly appointed administrators, which allegedly not acting immediately when fraud detected before.
The probe team headed by Crime Branch SB Sudarshan will now have the power of 19.
According to the source of CB, the team will now include DSP and two CIS, the remaining team members are civil police officers.
The team collected details of the defendants, including the level of nature and assets and their obligations from their family members.
The hunt was on to find the defendant and a breakthrough expected immediately, the CB source added.
Meanwhile, the government moved M C Aajith, the newly appointed administrator, because it did not act immediately when fraud was detected before.
Ajith was appointed as an administrator after dissolving the 13 panel of CPMLED members who ruled the bank.
The three members of the members led by P K Ravedran, an assistant director at the Department of Cooperation, has now been appointed to manage the bank.
Two other members are Cooperative Inspector M V Vinod and K K Pramod.
The new administrative panel starts paying deposits in the bank, in a limited way.
According to sources, banks are now distributing 30 tokens per day and each depositors offered payment of 10,000 rs, considering that the bank does not have enough resources to restore all deposits.
P B Nooh, the Cooperative Registrar, said that the nine-member panel was appointed by the government to investigate the situation that caused fraud to submit their reports in a month.
The panel is expected to recommend steps to save the bank and to protect the interests of its customers.
The bailout package for cooperative banks will then be resolved by Kerala Bank.
The CB team investigated expanded bank co-op fraud
