Crackdown on Cooperative Bank Fraud: ED Raids Multiple States

The Enforcement Directorate conducted raids in multiple states, including Bihar, as part of a money laundering investigation into alleged embezzlement at a state cooperative bank. The operation includes searches at premises linked to RJD MLA Alok Kumar Mehta. The alleged fraud amounts to Rs 85 crore.

The Enforcement Directorate launched an extensive operation on Friday, conducting searches across several Indian states, including Bihar, as part of an investigation into money laundering.

The operation targeted 18 locations in Bihar, West Bengal, Uttar Pradesh, and Delhi, involving premises connected to RJD MLA and former Bihar minister Alok Kumar Mehta, promoter of Vaishali Shahri Vikas Cooperative Bank.

The investigation stems from state police FIRs accusing the bank of embezzling around Rs 85 crore. The RBI had previously verified alleged fund diversions at the bank.

(With inputs from agencies.)