Premium
This is an archive article published on November 23, 2008

Cooperative bank fraud lands 21 in soup, 15 arrested

The Economic Offences Wing of the crime branch of Pune police on Saturday arrested 15 office-bearers of Survarna Co-operative Bank.

.

The Economic Offences Wing (EOW) of the crime branch of Pune police on Saturday arrested 15 office-bearers of Survarna Co-operative Bank.

Former bank chairman Dnyaneshwar Chandrashekhar Agashe, his wife Rekha and son Ashutosh were also among those booked for alleged financial fraud to the tune of Rs 436.74 crore.

R U Jadhavar, special auditor of the state Co-operatives Department, filed the complaint at Deccan Gymkhana police station. Judicial Magistrate (First Class) R Jadhav remanded them in police custody till Monday.

Story continues below this ad

ACP (crime) Rajender Singh said 21 have been booked, of which 15 have been arrested. The remaining will be arrested soon.

“The accused had misused their powers to sanction loans to relatives without any guarantee. Of the total loan given by the bank, 89 per cent was sanctioned to only five percent of the loan borrowers,” he said.

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement