Madhya Pradesh: Rs 8.85 cr scam comes to light in Civil Coorporative Bank, 16 booked in Burhanpur

This is probably the first case in the history of Burhanpur district when a case of fraud has been registered against so many employees of a co-operative bank.

FP News ServiceUpdated: Thursday, December 29, 2022, 08:41 PM IST
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Burhanpur (Madhya Pradesh): Nepanagar police in Burhanpur district booked as many 16 people in connection with an alleged scam of Rs 8.85 crore that surfaced at the Nagrik Seva Sahakari Bank located in Nepanagar tehsil of Burhanpur district. 

Police booked them under relevant sections of IPC for cheating and financial irregularities after it came to the fore in the investigation conducted by the Cooperative Department. Those who were booked include former and present officers and employees of the bank. 

This is probably the first case in the history of Burhanpur district when a case of fraud has been registered against so many employees of a co-operative bank. 

According to the FIR registered by the police, all the accused have been involved in financial irregularities. During the investigation, they did not even provide the records of the bank. 

As per details, the Cooperative Department had given a time-limit of two months to the bank management for payment of the maturity amount to the depositor, but the management did not pay the principal amount to anyone while the interest amount was returned to only a few customers. 

A huge amount is pending to be returned to over 650 depositors even after four months have passed.  

An investigation team of the Cooperative Department reached Nepanagar on Wednesday night and scrutinized documents till late night. 

Later, a case was registered against 16 people at Nepanagar police station. Meanwhile, the deputy registrar of cooperatives along with officers and employees rushed to the police station. On the complaint of cooperative inspector Pandurang Sonawane, a case was registered under section 34 of MP Cooperative Society Act 1960. 

Those who have been booked are cashier Suresh Wankhede, manager Subhash Yadav, accountant MukeshTayde, vice president Subhash Patil, clerk Vijay Prakash Sharma, accountant Sudhir Mahajan and others. A few months ago, additional collector Shailendra Singh Solanki had handed over an investigation report to the collector revealing the scam.

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