Shivajirao Bhosale Coop Bank: Sitting NCP MLC Anil Bhosale arrested by Pune police for suspected financial fraud
Bhosale, who is the director of the bank, was arrested from his home in Shivajinagar in a case of alleged financial fraud of Rs 71.78 crore in the Shivajirao Bhosale Cooperative Bank Limited.Updated: Feb 27, 2020 16:36 IST
Additional sessions judge and special Maharashtra Protection of Interest of Depositors Act (MPID) judge Shivajinagar, SS Gosavi, on Wednesday remanded sitting Nationalist Congress Party (NCP ) Maharashtra Legislative Council (MLC) Anil Bhosale (55), chief promoter of Pune-based Shivajirao Bhosale Co-operative Bank and three others to police custody till March 6.
Bhosale and his associates were arrested by the crime branch on Tuesday night in connection with a fraud of over Rs 71.78 crore.
At least dozen accused, including Bhosale’s wife, are yet to arrested after they were booked in the FIR lodged with the Pune police for charges ranging from misappropriation, forgery and cheating.
Pune police had arrested Bhosale, one of directors of the bank Suryaji Jadhav, chief accountant Shailesh Bhosale and chief executive officer at the bank Tanaji Padwal on Tuesday night.
His wife Reshma Bhosale is also one of the accused in the case. She is a BJP-backed corporator of the Pune Municipal Corporation (PMC).
Economic Offences Wing police inspector Muralidhar Karpe, the investigation officer in the case, in his remand application before the court said that Bhosale misused his position and conspired with the co-accused and siphoned off the amount for personal gains.
Their connivance has been unearthed in the forensic audit report submitted by the bank auditor.
The audit report further revealed that the bank cash book showed ₹71.78 crore less wherein the complainant in his specific audit report stated Bhosale had confessed and signed over a document which says that cash estimated to be worth ₹71.78 crore has been deposited less in the cashbook, the application stated.
It further pointed out that Bhosale and other accused had bought large properties and cash in their personal accounts which demanded a detailed investigation.
Also, the police want to establish the trail of where the siphoned money had gone and want to track the cash flow, it stated.
The application further added that the custodial interrogation was imperative as a number of angry protestors had taken to streets demanding their fixed deposits and other investment in the bank be returned.
“There could be a serious law and order problem over the mammoth nature of the fraud which makes his custodial interrogation essential,” Karpe said.
In January, the police had registered a case against Bhosale, his wife and 15-16 others, including the board of directors, for alleged forgery, misappropriation and cheating.