Thiruvananthapuram: The Kerala police team investigating the massive fraud that surfaced in July at the local CPI-M controlled Trissur Karavanoor Cooperative Bank, on Monday made the arrest of four of its now disbanded board members. After the detection of the fraud, the board of the bank was disbanded.

The fraud that was detected according to State Cooperative Minister V.N.Vasavan, also a top CPI-M leader, is to the tune of over Rs 104.37 crore and the state government was quick to launch a Crime Branch probe into it and have arraigned six people, all employees, as accused in their first information report that has already been filed and were later arrested.

Even though the Minister says the fraud is to the tune of Rs 104 crore, the Congress opposition says that figure is only a minuscule of the actual amount. The new arrest includes its former president K.K. Divakaran and three other directors and more importantly all of them are CPI-M members.

The Enforcement Directorate also have started its probe into the siphoning of the money as reports have surfaced that they have invested a huge portion of this money at a resort in Thekkady. The scam came out in the open after the local Cooperative officials conducted an inspection.

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