Abstract
e investigate the lepton flavor violating processes in the colored Zee-Babu model \cite{CZBM}, which contains an extra leptoquark and an extra diquark in the standard model framework. The model has two-loop correction to the neutrino masses. In our work, the decay widths of leptoquark and diquark are calculated; by assuming that the diquark Yukawa is democratic, %and minimal flavor violation is applied, the Yukawa couplings of leptoquark relevant to the neutrino masses are derived approximately from the diquark Yukawa, the triple coupling, masses of leptoquark and diquark, and neutirno oscillation data; the lepton flavor violating processes $\ell \to \ell' \gamma$, $Z\to \bar{\ell} \ell'$ and its CP violation parameter, and $\mu-e$ conversion are discussed in their branching ratios. Moreover, the dipole moment correction from this model to charged leptons is discussed. In the numerical study, by using a rescaling method, the predicted regions for the branching ratios of $\ell \to \ell' \gamma$, $Z\to \bar{\ell} \ell'$, and $\mu-e$ conversion, maximum of the CP violation parameters in $Z\to \ell \ell'$, as well as the partial branching ratios for the decays of leqtoquark to a charged lepton and a up-type quark are found under the assumption: democratic diquark Yukawa and minimal flavor violation which leads the couplings between leptoquark, both right-handed charged leptons and up-type quarks to zeros.