Kerala BJP chief K.Surendran on Saturday alleged that the ruling CPI-M is parking its ill-gotten wealth in cooperative banks and the latest massive fraud that has surfaced at the Trissur Karavanoor Cooperative Bank is only the tip of the iceberg.

Surendran said the present Crime Branch police probe into the Trissur bank case is intended to destroy all the documents in the case as funds embezzled from the bank was used in the campaign of R.Bindhu — current Minister of Higher Education in Kerala, besides for wife of the acting CPI-M state secretary A.Vijayaraghavan and former State Cooperation Minister A.C.Moideen.

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“The relatives and close aides of Moideen are behind this bank scam and the present Crime Branch probe will be of no use and the need of the hour is a central agencies-led probe. We are going to launch a protest,” said Surendran.

“The Trissur bank is just one of the many 106 Cooperative banks directly under the control of the CPI-M that are parking bays of the Left party’s ill-gotten wealth.

“Only a central agency probe will bring out the truth as some accused have already left the country and some are in hiding,” added Surendran.

The Trissur Karavanoor Cooperative Bank surfaced after the local Cooperative officials conducted an inspection following a complaint that all was not fair at the bank.

The complaint was found to be true and it surfaced that loan money was being given for various property documents credited to a few accounts, while some of the account holders had no clue that loans were being sanctioned based on their property documents.

The Kerala Crime Branch police are probing the loan fraud to the tune of over Rs 104.37 crore according to State Cooperative Minister V.N.Vasavan who informed the State Assembly on Friday.

On Saturday, M.V.Govindan, the Local Self Government Minister and second in command to Vijayan told the media that none will be spared and all those who have had a role in the scam will be taken to task.

“Party affiliations will not be looked into and none who have done a wrong will be spared,” said Govindan.

However, Leader of Opposition V.D.Satheesan on Saturday told the media that the present probe is nothing but eyewash.

“This scam first surfaced three years back and the Cooperative department after their probe then asked for a Vigilance probe, but why has the CPI-M been silent on it. The present probe is only meant to save the real culprits and the real culprits in this probe is the CPI-M,” said Satheesan.

This CPI-M controlled bank has a 13 member committee that has been disbanded after the Cooperative Inspectors found out about the loan fiasco and six bank officials have also been suspended.

On Saturday anxious depositors arrived at the bank to check if they could withdraw their hard-earned money.

The employees attached to the bank and presently on the run are understood to have invested a huge portion of this money at a resort in Thekkady.