Samata Co-operative bank case investigation the amount involved is likely to snowball to more than Rs 200 crore.

Samata Co-operative bank case investigation the amount involved is likely to snowball to more than Rs 200 crore. State criminal investigation department (CID) is unearthing more stunning facts like even fruit and movie posters being accepted as securities for loans, and insiders siphoning off huge amounts of funds. Seizure of properties, purchased with the illegally procured loans, is also on the cards. <br />Moreover, around six auditors including an internal one and at least 27 more borrowers have been brought under scanner by CID. A source said these borrowers are likely to have siphoned off nearly Rs 103 crore. Several new accounts have been unearthed by the toiling sleuths. “The scam is getting larger from the earlier figure of around Rs 145 crores. Several mind-boggling facts are tumbling out now as CID has began to unearth documents and evidence of fraud which had so far remained hidden,” said Yashasvi Yadav, superintendent of police, state CID. “Names of the borrowers who embezzled huge amounts but were not named in the FIR are surfacing. We suspect auditors too had a role to play, especially after year 2000. The scam was very evident then. The auditors should have pointed out violations of banking rules or RBI guidelines but that was not the case,” said Yadav who has put a team in place to investigate the case minutely.

Samata Co-operative bank case investigation the amount involved is likely to snowball to more than Rs 200 crore.

Samata Co-operative bank case investigation the amount involved is likely to snowball to more than Rs 200 crore. State criminal investigati...

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