Loan fraud in Wayanad Pulpally Cooperative Bank: Former president K.K. Abraham taken into custody, victim commits suicide

Pulpally: In connection with the case of loan fraud in Wayanad Pulpally Cooperative Bank, former president of the bank and KPCC general secretary K.K. Abraham was taken into police custody. A farmer who was a victim of loan fraud was found to have committed suicide in a garden near his house.

Abraham was taken into custody from his home in Pulpally at 1 am on Wednesday. Former bank secretary Rama Devi has also been taken into custody. Abraham was admitted to Batheri Taluk Hospital due to his physical condition. He responded that the loans were given legally. Rajendran Nair (60), who was the complainant in the loan fraud case, was found dead in Kelakavala Chempakamula East Edaiyalam.

According to Pulpally Service Cooperative Bank records, Rajendran Nair has taken a loan of Rs 25 lakh by mortgaging the land and currently has an outstanding balance of Rs 40 lakh with interest. However, the family members said that the loan was only Rs 73,000. The family members said that lakhs of rupees were stolen by the benami group. He was depressed ever since he came to know that there was a huge liability in the bank in his name.

He had filed a complaint pointing out that some members of the governing body had stolen the money without his knowledge. During the tenure of KPCC General Secretary Abraham as President, the audit department discovered the loan irregularities of eight and a half crore rupees. The case is now in the High Court.