Mumbai: The Enforcement Directorate (ED) has provisionally attached properties worth around Rs. 26.60 crore as part of its money-laundering probe into the Shivajirao Bhosale Sahakari Bank fraud case of Pune. The case involved financial fraud undertaken by accused persons, allegedly including siphoning off of cash on oral instructions from the bank and misappropriation of funds, among other irregularities, agency sources said on Friday.
The alleged proceeds of crime involved in the case is worth around Rs 494 crore, according to ED.
2020 case at Shivajinagar Police Station
The ED had begun its probe into the money -laundering aspects of the case on the basis of a case registered by Pune’s Shivajinagar Police Station in 2020, which acted upon a complaint lodged by the Statutory Auditor of the Shivajirao Bhosale Sahakari Bank. The assets attached by the ED included 23 immovable properties belonging to Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav and Mrs. Nusrat Shanur Mujawar, apart from certain equity holdings of Bhosale.
ED’s probe revealed that the financial fraud at the bank was done by accused persons in multiple ways, including cash siphoned off from the bank on oral instructions in the absence of any official entry/record in the Core Banking System, misappropriation of funds of the bank by transferring huge funds to themselves and related parties. “Other instances of fraud under the agency’s scanner include alleged fraudulent disbursal of loans and diversion of such loans by key managerial persons of the Bankand others. Bogus cheque discounting facility was done to reduce the status of Non-Performing Assets of the Bank,” claimed an ED official.
“The key managerial persons of the Bank treated the bank and its funds as their family concern and utilized the siphoned funds for their personal gains. Total proceeds of crime involved in the case is around Rs 494 crore,” the official said. The agency had conducted searches in the case on January 15, 2021 and four accused persons were arrested on March 5, 2021 under the Prevention of Money Laundering Act. The arrested persons are in judicial custody.
“ED investigation, so far, has established that Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav and Late Shanur Akbar Mujawar are the major beneficiaries of this financial fraud. ED has identified and attached immovable properties at Pune and Kolhapur worth around Rs 25.53 crore approx and equity holdings in DEMAT account of Anil Shivajirao Bhosale worth Rs 1.06 crore,” ED said.
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