E-Paper
₹112 cr fraud in Yashwant Co-op Bank; BJP leader, ex-MLA’s son among 50 booked
As per the FIR, the alleged fraud took place between August 2014 and March 2025, when the accused, including the bank’s former chairman, directors, and employees, conspired to sanction fake loans, causing significant financial losses to the institution.
Pune: An alleged financial fraud of ₹112 crore has been unearthed in the Yashwant Co-operative Bank in Phaltan, Satara district, with Karad city police registering a case against 50 individuals, including BJP leader and former chairman of Sahakar Parishad, Shekhar Charegaonkar, and Narendra Bhoite, son of late Phaltan MLA Krishnachandra Bhoite.
The complaint, filed on Saturday by government auditor Mandar Deshpande from Pune, alleges that the accused colluded to misappropriate ₹112.10 crore through bogus loan accounts in the bank, a senior police officer said on Tuesday.
As per the FIR, the alleged fraud took place between August 2014 and March 2025, when the accused, including the bank’s former chairman, directors, and employees, conspired to sanction fake loans, causing significant financial losses to the institution.
Police said investigations have revealed that 195 bogus loan accounts were allegedly created. Loans were disbursed without adequate collateral and old non-performing accounts were shown as cleared by opening new fake accounts. The accused allegedly forged documents, manipulated records, and misused bank funds for personal gain.
“Based on the complaint filed by the auditor, we have registered an FIR against 50 individuals. Further investigation is underway,” a Karad city police officer said.
The case has been registered under sections 3(5), 316(2), 316(4), 318(4), 336(3), 338, 339, 340(2), and 61 of the Bharatiya Nyaya Sanhita (BNS).
