CPI(M) Leader P.K. Biju Appears Before ED in Karuvannur Bank Scam Probe

Former CPI(M) MP from Alathur, P.K. Biju, faced questioning by the Enforcement Directorate (ED) in the Karuvannur Service Cooperative Bank money-laundering case on April 4. Biju, a member of the CPI(M) State secretariat, is the third prominent party leader to be implicated in the multi-crore loan scam. Despite being questioned, Biju stated that the agency didn’t request the report prepared by a CPI(M) committee investigating irregularities in the bank.

The ED previously alleged links between Biju and a financier arrested in connection with the scam, but Biju vehemently denied any involvement. The scandal involves an estimated ₹350 crore in siphoned funds, leading to significant losses for numerous depositors as the bank faced financial distress.