Case filed against 174 for Rs 70 cr fraud

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Nashik, Feb 2: The city crime branch has filed a case against 174 people working in Sriram Co-operative Bank, including its chairman, directors, officials and employees, for an alleged fraud and financial irregularities to the tune of more than Rs 70 crore.

According to sources, an inquiry had revealed that the Bank's directors, officials and some debtors had cheated the depositors and account holders to the tune of Rs 70,63,16,000 during April 2000 to March 2005.

Following this, a case was registered against 174 people, including Bank Chairman Vijay Patil, under sections 403, 406, 408, 420 and 120 (B) of the Indian Penal Code (IPC) on January 31.


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