By Express News Service

THRISSUR: The crime branch team probing into the Rs 100 crore loan scam at Karuvannur Service Cooperative Bank has arrested key accused Pallath Kiran from Kollengode in Palakkad. It is alleged that Kiran, 31, a native of Perinjanam in Thrissur, received a loan of about Rs 22 crore through benami accounts though he did not even possess a membership in the cooperative.

The probe by cooperative department and crime branch had found out that loan worth Rs 50 lakh was sanctioned in Kiran’s name. Apart from this, loans sanctioned several people were also diverted to his personal account through 45 benami account, the probe team said. 

The probe also found out that the bank had sanctioned loans to Kiran’s business partners and family members without any collateral or furnishing any pledge document.  When the investigation by the cooperative department asked him for explanation, he…

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