New Delhi, Sep 27 : The Enforcement Directorate (ED) has arrested CPM leader P.R. Aravindakshan and former bank accountant C.K. Jilse under the provisions of the Prevention of Money Laundering Act (PMLA) in connection with the Karuvannur Service Co-Operative Society Bank scam worth Rs 150 crore, an official said. The ED initiated a PMLA investigation based on an FIR registered by the Irinjalakuda police station, Thrissur, Kerala, alleging swindling of more than Rs 150 crore by the bank officials, with the help of private individuals, by cheating the bank. Following the search operations conducted by the ED, it was revealed that P. Satheesh Kumar has layered the proceeds of crime of Rs 50 lakh through a fixed deposit in the name of Aravindakshan. Huge transactions have been found in the bank account of Aravindakshan, which were not revealed during the course of investigation. During investigation under the PMLA, it was revealed that Jilse had availed a loan in the name of his family members and several others, of which a total of Rs 5.06 crore is the outstanding amount. The accused duo was produced before the designated PMLA Special Court, Ernakulam, Kerala. The designated court has granted a two-day ED custody of the arrested individuals. Earlier in this case, the ED had attached properties worth Rs 30 crore, including a resort in Thekkady, Kerala, built out of the proceeds of crime. Further investigation into the matter is underway. /IANS