Swindling Rs 12.68 cr from Kozhikode Corp: ED, CBI collect evidence

Kochi: The Enforcement Directorate (ED) and the CBI have started collecting preliminary evidence in the case of a Punjab National Bank (PNB) manager allegedly swindling Rs 12.68 crore from the accounts of Kozhikode Corporation.

The national agencies intervened in the case being probed by the crime branch after the PNB director board asked the finance ministry for a nationwide investigation.

The investigation will look into the bank accounts of other local bodies in the state to ascertain if any racket was behind the fraud.

The probe agencies will record the statement of the accused, PNB senior manager M P Rijil, now kept under suspension. The investigators have sought the cooperation of Rijil's advocate. The CBI has collected a copy of Rijil's anticipatory bail application. The accused is now missing.

Rijil's colleagues have reportedly mentioned in their statements his closeness with an advocate, whose name was earlier linked with financial misappropriation cases. The advocate had briefly practised in the high court.

The swindled amount, Rs 12.68 crore, was drawn from the corporation's various accounts. The ED suspects that the claim that Rijil had lost the money playing online games was a ploy to protect the pelf.

ED officers suspect that the statements about the claim of losing money were made knowing well that the crime branch cannot collect digital evidence for transactions made through foreign lottery portals and the dark web.

The central agencies are unlikely to take up the probe if the swindling is confined only to the Kozhikode Corporation. But if the agencies get evidence of a racket's involvement in swindling money from the accounts of other local bodies, the CBI will take up the probe.

In such a scenario, the ED, too, will investigate the case under the Prevention of Money Laundering Act.