ED attaches properties worth Rs 85 crore of ex-NCP leader Mangaldas Bandal
The investigation carried out by the federal agency has revealed that Mangaldas Bandal availed loans from SBSBL in the names of associated local businessmen and farmers by leveraging his influence and close association with Anil Bhosale, Chairman of SBSBL.
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Preliminary findings revealed that M/s Vuenow Marketing Services Ltd. (VMSL), in collusion with associated entities, lured investors into a fraudulent scheme under the guise of selling cloud particles.The Enforcement Directorate (ED), Mumbai has attached immovable properties worth nearly Rs 85 Crore in Pune, Solapur and Ahmednagar belonging to wrestler-turned-politician Mangaldas Vittahlrao Bandal, Hanumant Sambhaji Kemdhare, Satish alias Yatish Jadhav and their family members in the money laundering case of Shivajirao Bhosale Sahakari Bank Limited (SBSBL), the agency informed on Wednesday.
ED commenced a money laundering probe against Bandal based on the FIR registered by Shivaji Nagar Police Station, Pune against Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav and others. Later, the case was transferred to the Economic Offences Wing (EOW) of Pune police.
The investigation carried out by the federal agency has revealed that Mangaldas Bandal availed loans from SBSBL in the names of associated local businessmen and farmers by leveraging his influence and close association with Anil Bhosale, Chairman of SBSBL.
He also utilised the lands of local farmers as mortgaged properties, significantly inflating their values compared to fair market rates, as noted in the forensic audit report.
Hanumant Kemdhare, the then Loan Superintendent of the Bank, played a crucial role in sanctioning fraudulent loans at SBSBL from 2007 to 2013 and misused his position as Loan Superintendent to recommend loans that were otherwise ineligible.
The ED has already attached property of Anil Shivajirao Bhosale and others in February 2023 worth Rs 26 crore in the case, the agency stated.
Bandal was expelled from the NCP in March 2020 after his name came up in the police’s primary investigation in the extortion case. He has held positions in Pune district and state-level bodies of the NCP and also contested elections. Bandal is now facing multiple criminal cases.
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