Thiruvananthapuram, Jul 19 (IANS): The Kerala police has begun probe into an alleged loan fraud to the tune of over Rs 100 crore that has surfaced at the Trissur Karavanoor Cooperative Bank after the local Cooperative officials conducted an inspection.

The inspection was carried out after locals gave a complaint that things are not right in the bank.

Following the inspection by the Cooperative Inspectors, the complaint was found to be true and it surfaced that loan money given on various property documents was credited to a few accounts, while some had no clue that loans were being sanctioned based on their property documents.

Following the inspection, the Cooperative department officials registered a complaint with the local police at Trissur, which has registered a complaint and charges like cheating have been registered against the bank officials.

The CPI-M controlled bank has a 13-member committee and that has been disbanded after the Cooperative Inspectors found out the loan fiasco and six bank officials have also been suspended.

Speaking to the media, the complainant in the case said that he had last year brought this to the notice of higher ups.

"The bank has a deposit base of over Rs 450 crore and of this Rs 400 crore has been given out as loans and the figure of Rs 100 crore which has now come out is so low, while the actual fraud can be more," said the complainant.