A massive financial scam worth Rs 64.04 crore has come to light, involving the Mehsana Urban Co-operative Bank Ltd. The bank's legal manager, Anil Patel, filed a complaint with the CID Crime Fraud Cell in Gandhinagar on Thursday, accusing several individuals of creating fake valuation reports and construction certificates to obtain multiple loans.
The fraud, carried out between 2016 and 2023, saw the accused misuse loans sanctioned for development projects. Instead of using the funds for the stated purposes, they diverted the money for personal gains, leaving the bank with unpaid loans and incomplete projects.
This story is from the January 04, 2025 edition of Ahmedabad Mirror.
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This story is from the January 04, 2025 edition of Ahmedabad Mirror.
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