05 November Tuesday

Corruption In Crores At Congress-governed District Dealers Bank In Idukki; Frantic Cover-up Efforts Ongoing

Web Desk(Tvm)Updated: Saturday Oct 7, 2023

Idukki : Irregularities to the tune of crores were detected in the District Dealers Bank  governed by Congress in Idduki and fierce attempts are underway to prevent the scam from spilling out.  The preliminary investigation under section 65 of the Co-operative Societies Act uncovered corrupt transactions  involving at least Rs 12 crores. Depositors say an in-depth investigation will unearth more than  double that amount in  irregularities.

Following its investigation, the Co-operatives Dept had  complaint was filed with Nedukandam Circle Inspector in January 2023 seeking  criminal action the bank . The bank was registered and began operations in 1993. Corruption in several crores took place when Congress Mandalam President Tommy Joseph was the bank president  and leaders including former DCC President Ibrahimkutty Kallar were members of the Board.

Besides, the employees and bank secretary provided support for the illicit transactions. Investigations showed how Board members including Congress leaders engaged in fraud with help from the secretary. As news of the scam broke, the employees and Board members helped the secretary  to go into hiding. There was  pressuring from Congress for this. The bank’s customers allege that senior politicians of Congress are intervening to stall the case. Ultimately, it was soured ties between Board members that brought the irregularities to light.


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