Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Local News»ED arrests ex-chairman of Karnataka cooperative bank chairman in Rs 62.77 crore fraud case | Bangalore News
Local News

ED arrests ex-chairman of Karnataka cooperative bank chairman in Rs 62.77 crore fraud case | Bangalore News

April 10, 2025No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

The Enforcement Directorate (ED) Wednesday arrested the previous chairman of Shivamogga District Co-Operative Central Financial institution in a case of an alleged faux gold mortgage and large-scale misappropriation of funds.

After the officers of ED’s Bengaluru Zonal Workplace arrested R M Manjunatha Gowda, they produced him earlier than the courtroom. The courtroom despatched Gowda in ED custody for 14 days.

The arrest comes after ED performed search operations in numerous places throughout Shivamogga and Bengaluru, together with the Shimoga DCC Financial institution, Metropolis Department workplace. The raids have been performed in reference to the alleged gold mortgage rip-off, and the next diversion of funds. The Central company stated proof, together with digital, was seized through the searches.

Story continues under this advert

ED stated the probe revealed {that a} large-scale misappropriation of funds befell on the Shivamogga District Co-Operative Central Financial institution, Metropolis department, which was orchestrated primarily by department supervisor B Shobha on the directions of Gowda.

As per the chargesheet filed by the Lokayuktha police, Sobha allegedly conspired with different co-accused to divert Rs. 62.77 crore. The chargesheet stated their modus operandi concerned opening fraudulent gold mortgage accounts with out the data of the person account holders, utilising faux, fabricated, and cast paperwork.

The Lokayuktha police chargesheet stated the Proceeds of Crime (POC) generated by B Sobha in conspiracy with different co-accused have been laundered, and handed over to Gowda. He allegedly acquired numerous movable and immovable properties, and owned numerous such properties acquired from POC generated from the reported offence.

As per the chargesheet filed by the Lokayuktha police, he was additionally discovered to have property disproportionate to his identified sources of revenue.

© The Indian Categorical Pvt Ltd



Source link

arrests Bangalore bank case chairman Cooperative crore exchairman Fraud Karnataka news
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Celeb nutritionist Pooja Makhija says ‘you don’t catch colds, your gut lets them in’ — we fact check | Health News

May 31, 2025

‘Exposing Prasidh Krishna to Rohit and Bairstow in Powerplay was a tactical error from GT’, says Tom Moody | Ipl News

May 31, 2025

As carmakers struggle to integrate software systems into vehicles, Toyota weaves in its Arene toolkit | Business News

May 31, 2025

Google Gemini now automatically summarises your Gmail emails | Technology News

May 31, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

Celeb nutritionist Pooja Makhija says ‘you don’t catch colds, your gut lets them in’ — we fact check | Health News

May 31, 2025

‘Exposing Prasidh Krishna to Rohit and Bairstow in Powerplay was a tactical error from GT’, says Tom Moody | Ipl News

May 31, 2025

Faizan Zaki Wins 2025 Scripps National Spelling Bee A Year After Finishing Runner-Up

May 31, 2025

Megan Fox Being Warned Never To Reunite With MGK

May 31, 2025
Popular Post

‘Is this what uniform stands for now?’: Social media users call for arrest of IAF official for assaulting call centre staffer in Bengaluru | Bangalore News

East Bengal vs Mohun Bagan Super Giant Live streaming, ISL 2024-25: Where to watch Kolkata Derby LIVE on TV and online | Football News

Verizon will let you bundle Netflix Premium and Paramount+

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.