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NCP MLC, three others held by ED in Pune bank fraud case

According to FIR, the RBI found discrepancies in records of accounts.

By: Express News Service | Mumbai |
March 9, 2021 2:23:55 am
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The Enforcement Directorate (ED) arrested NCP MLC Anil Bhosale and three others on March 6 in connection with a Rs 71-crore fraud at Shivajirao Bhosale Co-operative Bank in Pune.

The ED case is based on a FIR registered by the Maharashtra Police against Bhosale, Suryaji Pandurang Jadhav, Tanaji Dattu Padwal and Shailesh Bhosale.

According to the FIR, the Reserve Bank of India (RBI) has found discrepancies in records/books of accounts of the bank. The banking regulator has alleged that the entry of cash of Rs 71.78 crore was kept pending at the bank in their cash book.

The FIR alleged that Bhosale, a director of the bank, “misused his position and conspired with the co-accused and siphoned the amount from Shivajirao Bhosale Co-operative Bank and its branches for personal gains”.

“The ED, during investigation, unearthed the connivance of all accused in the said report submitted by the bank auditor in the offence of money laundering by cheating, defrauding and siphoning public funds available in the Shivajirao BhosaleCo-operative Bank, which was deposited by small investors. It was further revealed that the said deposits had been sanctioned as a loan to different companies as well as entities comparatively more than their repayment capacity, resulting in the most of the loan account becoming non-performing assets, creating loss to the bank,” said the ED in a statement.

On March 6, a local court sent Bhosale and the three others to ED custody till March 11.

In January, the ED had conducted searches on multiple premises in and around Pune in connection with its money laundering case linked to the fraud at the bank.

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