The Crime Branch (CB), probing an alleged loan scam amounting to around ₹96 crore at the Angamaly Urban Cooperative Society, on Wednesday (June 25, 2025) arrested two former director board members on charges of siphoning off funds through fake loans and forged documents.
The arrested have been identified as Elsey Varghese and P.C. Tomy. Ms. Varghese was produced before a court in Angamaly on Wednesday and remanded to the District Jail, Kakkanad. Mr. Tomy was remanded to the Aluva Sub Jail. The arrests followed the Kerala High Court’s dismissal of their anticipatory bail pleas twice. Allegedly, Mr. Tomy and Ms. Varghese were signatories to over 300 fake loans, each worth crores of rupees.
