Directors Of Ghaziabad Bank Alleged Of Rs 100 Cr Scam

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A total of 24 directors of Ghaziabad’s now defuct Mahamedha Cooperative Bank have been charged for allegedly scam of around Rs 100 Crore.

The case was lodged after an audit was reported by a company engaged by the Cooperative Department. The names of the directors were mentioned in the report.

Cooperative Department Assistant Commissioner and Registrar Devendra Singh said atleast Rs 99.85 crore was misappropriated. He alleged that the bank officials sanctioned loans to ineligible customers.

Superintendent of Police (UP) Abhishek Verma told news agency PTI that the case will be investigated by the cooperative cell of the UP police.

The now defuct Mahamedha Cooperative Bank’s license was cancelled in 2017 due to irregularities. It was started in February 2001.

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