Multi Crore Fraud In 3 Co Operative Banks Handed Over To CBI, said Siddaramaiah

Bengaluru: Chief Minister Siddaramaiah on Saturday gave sanction to the Central Bureau of Investigation (CBI) to investigate multi-crore fraud case allegedly committed by Directors, Chief Executives and staff members of Management of Board of Sri Guru Raghavendra Co-operative Bank, Sri Vasista Credit Souharda Co-operative Bank and Sri Guru Sarvabahuma Souharda Credit Co-operative Bank.

The Co-operation department had requested to hand over the multi-crore fraud case of three Bengaluru based Co-operative banks to the sleuths of CBI and accordingly the State Government gave its sanction to the CBI to identify and investigate persons involved in connection with the alleged fraud.

Siddaramaiah said many retired persons had deposited their savings in the three Bengaluru City based Co-operative banks, hoping that their savings in these Co-operative banks would come to their rescue in future or in times of emergency. But, their hopes were dashed after alleged fraud by these banks which put the lives of the hundreds of retired persons into jeopardy.

He recalled that when he was the Leader of Opposition had raised the alleged fraud on the floor of the Assembly and also outside the Assembly seeking justice for the retired persons who lost their savings owing to alleged fraud in these 3 Co-operative banks.

“I had demanded the then State Government to hand over the case to CBI,” he said and stated that he understood the pain and sorrow of the persons who lost their savings amount in the alleged fraud. The case has been handed over to the CBI with a hope of rendering justice to the persons who lost their savings amount, said the Chief Minister in a statement.

The concerned department officers and others have been asked to hand over data/information/records as and when required by the sleuths of CBI and prove place, resources, manpower and logistic support including camp office and vehicles to CBI sleuths.