Vinay Aranha arrested in multi-crore Seva Vikas Cooperative Bank loan fraud case - Hindustan Times
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Vinay Aranha arrested in multi-crore Seva Vikas Cooperative Bank loan fraud case

Mar 29, 2024 08:33 PM IST

Aranha, who was previously in the custody of the Enforcement Directorate (ED) due to his alleged involvement in a money laundering scam amounting to ₹429 crore, has now been taken into CID custody along with co-accused Sagar Suryanwashi, who was allegedly involved in the scam

Vinay Aranha, associated with the city-based Rosary Education Group, has been apprehended by the Criminal Investigation Department (CID) in connection with the multi-crore Seva Vikas Cooperative Bank loan fraud case.

The Seva Vikas Cooperative Bank, a cooperative bank operated from Pimpri Chinchwad city has more than 20 branches across the city. The Reserve Bank of India (RBI) appointed an administrator due to numerous cases filed by depositors. (REPRESENTATIVE PHOTO)
The Seva Vikas Cooperative Bank, a cooperative bank operated from Pimpri Chinchwad city has more than 20 branches across the city. The Reserve Bank of India (RBI) appointed an administrator due to numerous cases filed by depositors. (REPRESENTATIVE PHOTO)

The Seva Vikas Cooperative Bank, a cooperative bank operated from Pimpri Chinchwad city has more than 20 branches across the city. The Reserve Bank of India (RBI) appointed an administrator due to numerous cases filed by depositors.

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Aranha, who was previously in the custody of the Enforcement Directorate (ED) due to his alleged involvement in a money laundering scam amounting to 429 crore, has now been taken into CID custody along with co-accused Sagar Suryanwashi, who was allegedly involved in the scam.

Officials from the CID said, Aranha and Suryawanshi were taken into custody from ED and were produced before a court at 12:30 am on Friday. The court remanded them to five-day CID custody.

According to officials, initially ED has initiated investigation in the case and seized several properties worth 122 crore of the people associated with them.

Later many cases have been registered against Aranha out of which a financial fraud case is being investigated by the CBI.

Aranha, was also arrested for helping drug kingpin Lalit Patil to escape from Sassoon General Hospital.

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