PMLA Court Accepts ED Chargesheet Against CPI(M) Leaders in Karuvannur Case

A special court handling Prevention of Money Laundering Act (PMLA) cases has accepted the Enforcement Directorate's (ED) supplementary chargesheet against 28 accused, including the CPI(M) and several of its senior leaders, in the alleged money laundering case linked to the Karuvannur Service Cooperative Bank.

The chargesheet names Lok Sabha MP K. Radhakrishnan , MLA A.C. Moideen , former CPI(M) Thrissur district secretary M.M. Varghese , and several local party functionaries. The ED alleges that around ₹180 crore was laundered through fraudulent loans issued by the cooperative bank. The agency has attached assets worth ₹128 crore so far.

After hearing both sides, Special Judge Sabarinathan P accepted the supplementary chargesheet and issued summons to the accused, directing them to appear on July 4 . The ED had earlier filed a chargesheet against 55 accused. Of the 83 accused in the case, two have turned approvers while two have died. The agency expects the trial to begin soon.

The Karuvannur case has become one of Kerala's most significant financial scandals, raising concerns about governance and oversight in the cooperative banking sector. It has also acquired major political significance after the ED named the ruling CPI(M) and several of its leaders as accused.

Rejecting the allegations, the CPI(M) described the ED action as politically motivated and aimed at weakening the party. The party said its leaders had helped expose the irregularities, supported investigations and worked to protect depositors.

The case is expected to have wider implications for accountability in cooperative institutions while further intensifying the political confrontation between the CPI(M)-led Left government in Kerala and central investigative agencies.