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ED conducts searches at 3 cooperative banks in Keralam

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activeIllegal Betting / Money LaunderingKerala

ED conducts searches at 3 cooperative banks in Keralam

The Enforcement Directorate launched an investigation into alleged financial fraud and money laundering involving three cooperative societies in Keralam, with total irregularities estimated at approximately Rs 92 crore. Federal agency officials, coordinating with state police, carried out searches across around 20 premises located in Thrissur, Ernakulam, Kozhikode, and Malappuram districts.

State

Kerala

First reported

October 2026

Total Amount Alleged

Approximately Rs 92 crore

Agency Involved

Enforcement Directorate and Kerala Police

Institutions Involved

Angamaly Urban Service Co-operative Bank, Thennala Service Co-operative Bank, and Kuttanellur Service Co-operative Bank

Arrests or Charges

Cases registered by Kerala Police against 14 governing committee members and six past and present employees in one of the cases

Status

Ongoing searches and investigation by the Enforcement Directorate

The full story

Everything you need to know about this case, in one place.

The probe covers alleged irregularities at the Urban Service Co-operative Bank in Angamaly, where office-bearers are accused of issuing fake loans, causing a loss estimated at about Rs 55 crore. Kerala Police previously registered cases against 14 governing committee members and six past and present employees in connection with this specific institution.

Investigators are also examining Thennala Service Co-operative Bank, where alleged financial irregularities are estimated at around Rs 10 crore through fraudulent loan sanctions, fund misappropriation, and promises of higher interest. Additionally, searches were conducted regarding Kuttanellur Service Co-operative Bank, where office-bearers allegedly transferred mortgaged properties without the consent of owners and depositors, involving an estimated Rs 27 crore.

Not yet reported: The articles do not mention any final court outcomes or the current legal status of the accused individuals beyond police case registrations.

Where the case stands

The latest position in the reports we read.

The Enforcement Directorate is actively investigating the cases and has conducted searches across multiple premises linked to the suspects.

Who was affected

Described in general terms; we do not name victims.

Members, depositors, and account holders of the three cooperative societies whose funds or mortgaged properties were allegedly mishandled.

Timeline

Key dates as reported, oldest first.

July 7, 2002The period since which alleged forgery and resultant cheating took place at the Urban Service Co-operative Bank in Ernakulam.

October 7, 2026The Enforcement Directorate carried out searches at multiple locations and premises across districts in Keralam.

How the scam worked

The method described in the reports.

Issuing fake loans or sanctioning loans on forged applications and applications submitted without requisite documents, including in the names of non-members.
Promising higher interest rates to attract deposits.
Transferring mortgaged properties without the consent of the respective owners and depositors.
Misappropriating funds through coordinated actions by past and present governing committee members and employees.

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Sources and further reading

Optional. The full story is above; these are the original reports it was prepared from.

english.publictv.inOriginal report thehindu.comOriginal report m.rediff.comOriginal report The Hindu<![CDATA[https://www.thehindu.com/news/national/kerala/ed-conducts-searches-at-3-cooperative-societies-in-keralam/article71554567.ece]]>ED raids 20 premises in Keralam in three cooperative society fraud cases - Public TV EnglishPublic TV English · 7 Oct 2026

Prepared by Report Scams, with the help of AI, from the published reports listed above. Check those reports for the latest. Cases here describe allegations. An FIR, arrest or charge is not a finding of guilt. To report a mistake, or to ask for a correction or removal, write to our Grievance Officer. See also the Safe Posting policy.