A Crime Branch team on Monday arrested T.R. Sunil Kumar, key accused in the financial fraud at the Karuvannur Service Cooperative Bank.
He has been the secretary of the bank for the past 21 years.
He went into hiding after the Crime Branch arraigned him as the first accused in the case. Following a tip-off, a team of Crime Branch led by Ernakulam Range IG Gopesh Agarwal and Thrissur Crime Branch Superintendent K. Sudharasan arrested him from a place under the Peramangalam police limit around 5 p.m.
The Crime Branch are on the lookout for the other accused in the case in Andhra Pradesh, Tamil Nadu and Karnataka.
A loan scam of more than ₹100 crore was recently unearthed at the bank controlled by the CPI(M). The Crime Branch has registered a case against six persons, including Sunil Kumar.
Other accused in the case are branch manager M.K. Biju, senior accountant C.K. Jilse, commission agent A.K. Bijoy, accountant of a supermarket under the bank Raji Anil and commission agent Kiran.
Though there were reports that four of the six accused were taken into custody by the Crime Branch more than a week ago, the Crime Branch team has denied them.