Gokak Police book 14 employees of cooperative bank for irregularities

Police officers have booked 14 employees of a local cooperative bank on the charge of financial irregularities to the tune of around ₹74 crore.

Superintendent of Police Bhima Shankar Guled told reporters in Gokak on Thursday that three teams have been formed to trace the accused and arrest the manager, clerk and other employees of the Mahalakshmi Urban Co-op Credit Bank.

“The case is likely to be taken over by the Criminal Investigation Department (CID) as the amount involved is huge. Till then, we will investigate,” Dr. Guled said.

The bank has six branches and more than 3,000 depositors. Appropriate action will be taken to protect their savings. He said that the property of the accused will be traced.

Chairman of the bank Jitendra Balasaheb Mangalekar had filed a complaint leading to the filing of First Information Report (FIR).

Most of the accused are absconding. They include manager Siddappa Sadashiva Pawar, staff members Sagar Hanamanta Sabakale, Vishwanath Ashoka Bagade, Sambaji Mallappa Ghorpade, Dayananda Shivaji Uppina, Malavva Hamanmantha Sabakale, Hon Logi, Sandeep Basavaraja Marathe and Kiran Sakarama Supali.

They took loans and failed to repay them repeatedly. This was done knowingly and in connivance with the manager and the other staff, the Superintendent of Police said.

Published - September 19, 2024 10:31 pm IST