Kerala, the only state ruled by communists, has become the hotbed of cooperative scams. Hardly a day goes by without the state reporting bank frauds.
The scam at the Karakalam cooperative bank dominated by CPM people has come to light at the heels of the scam breaking at the Karuvannur cooperative bank, reports New Indian Express.
The local court has asked the police to register a case against the authorities of Karakalam Cooperative bank. However, the bank authorities claimed there had been no frauds in their bank.