Maharashtra: Former MLA, 76 Others Booked In Rs 512 Crore Bank Scam

After the PMC Bank scam, another huge bank scam has come to light in Maharashtra. The latest case is from the Karnala Co-operative Bank in Navi Mumbai’s Panvel, where the Navi Mumbai Police have registered an FIR against 76 people in a Rs 512 crore bank scam on Tuesday.

Among these 76 people are bank chairman and former MLA Vivek Patil, and the vice-chairman and the chief executive manager of the bank. Out of these 76 people, while 13 are connected to the bank, 63 people have been charged with fraudulently taking loans from the bank by making fake documents.

For the time being, the police have handed over the Karnala Co-operative Bank scam case to the Economic Offences Wing and have not arrested anyone in this case so far. On Tuesday, bank customers demonstrated in large numbers in Panvel. 

According to the bank’s website, the Karnala Co-operative Bank had been established under the Co-operative Bank Act in 1996, after Vivekananda Patil received the licence from the Reserve Bank of India.