K K Abraham, former general secretary of the Kerala Pradesh Congress Committee, has been arrested in a loan fraud case involving a cooperative bank in Kerala. The case, which allegedly involved a Rs 5.62 crore loss, involved overvaluing properties offered as collateral for loans. The bank officials and governing body members sanctioned loans without the consent of the applicants, with the over and above amount given to Sajeevan Kollappallil, a private person.
