Mumbai: CBI registers case against two co-op bank managers for 'fraud'
The CBI has registered a case against two managers of the Vaidyanath Cooperative Urban Bank Ltd, after it was found that Rs 25 crore was to be fraudulently transported to be converted into legal tender
BM Shah, manager of the bank’s Ghatkopar branch
The CBI has registered a case against two managers of the Vaidyanath Cooperative Urban Bank Ltd, after it was found that Rs 25 crore was to be fraudulently transported to be converted into legal tender.
The Mumbai traffic police intercepted a Sunny Nissan car MH-14-DJ-0707, owned by one Yogesh Shiroye, on December 15, after a tip-off to the Central Bureau of Investigation, and on searching it, they recovered Rs 10 crore in old denomination notes of Rs 500, and Rs 10 lakh in new denominations of Rs 2000. The car was driven by Krishna Satpute, an employee of Vaidyanath Co-operative Urban Bank Ltd. Pimpri Chinchwad. There were two other occupants in the car, Shirish Thigle and Gajanand Swami, manager and another employee of the bank.
Police said Rs 25 crore in demonetised currency was to be fraudulently transported from the head office of the bank, from Beed to the Ghatkopar branch for converting into legal tender, by depositing it with the Maharashtra State Urban Cooperative Bank, Mumbai. The manager of the Ghatkopar branch is BM Shah. Out of the Rs 25 crore, Rs 15 crore was deposited with the Maharashtra State Urban Cooperative bank. At the time of interception by traffic police on December 15, the balance amount of Rs 10 crore was being transported.
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