THIRUVANANTHAPURAM: The Enforcement Directorate (ED) on Monday said its searches at the Nemom Cooperative Bank in Thiruvananthapuram have uncovered large-scale financial irregularities amounting to over ₹50 crore.
According to the agency, raids conducted on November 7 at the premises of the bank’s board members and directors — some reportedly linked to CPM leaders — revealed extensive forgery, fund diversion, and loan irregularities.
The ED said former office-bearers sanctioned loans beyond permissible limits, falsified documents, and diverted deposits, resulting in the bank’s inability to meet its financial liabilities and repay depositors.
The probe is part of the agency’s wider investigation into alleged mismanagement and corruption in cooperative institutions across Kerala.
