Burhanpur (Madhya Pradesh): Burhanpur district court dismissed bail plea of seven out of 16 accused involved in Rs 8.85 crore Nagrik Seva Sahakari Bank scam in Nepanagar tehsil of Burhanpur district.
Nepanagar police station in-charge BK Goyal said that Ashok Choudhary, Basant Panwar, Ramesh Singh, Rajendra Mahoday, Rajesh Jadhav, Yogesh Mahajan and Subhash Patil had moved bail application.
Nepanagar police have booked 16 accused in the case under relevant sections of the IPC for cheating and financial irregularities after cooperative department unearthed a scam.
Former and present officers and employees of the bank were booked in the scam.
All 16 accused are on the run and police are searching for them. After an FIR into the case, police seized accounts of all the accused. Police are also going through call details of the accused to trace their locations.
This is probably the first case in Burhanpur district where a case of fraud was registered against so many employees of a co-operative bank.
According to the FIR registered by the police, all accused were involved in financial irregularities. During investigation, they did not even provide bank records.
As per details, Cooperative Department had given a time-limit of two months to the bank management for payment of the maturity amount to the depositor. However, the management did not pay the principal amount to anyone. Even interest amount had been returned to only a few customers.
A huge amount is pending to be returned to over 650 depositors even after four months have passed.
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