Fraud detected at Kollam Kareepra co-operative bank

Kollam: A fraud invloving lakhs of rupees has been reported at two branchesof the Kollam Kareepra co-operative bank, controlled by the CPM. In the incident, three employees have been suspended, while a branch manager attempted suicide. During the audt held in March this year, it was found that a fraud of Rs 5 lakh had taken place. Huge irregularity was detected in the conduct of chits at the Idakkidam branch, after which action was taken against branch manager Raghurajan. He tried to kill himself later.

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