Bihar Cooperative Bank Scandal: Arrests Made in Money Laundering Probe

The Enforcement Directorate has arrested four individuals, including a former CEO, in connection with a money laundering inquiry tied to alleged fund embezzlement at a Bihar cooperative bank. Promoted by an RJD MLA, the bank is under scrutiny for a fraud involving fake loan accounts.

The Enforcement Directorate has apprehended four individuals, including a former CEO, amid a money laundering investigation linked to fund embezzlement at a cooperative bank in Bihar. Official sources reported this development on Sunday.

Raids had been initiated by the federal agency against RJD MLA Alok Kumar Mehta and several others in Bihar on January 10 as part of the probe into alleged financial misconduct at the Vaishali Shahri Vikas Co-operative Bank.

Key arrests include former bank CEO Vipin Tiwari, Ram Babu Shandilya, Nitin Mehra, and Sandeep Singh. The accused, having been produced before a PMLA court, are now in judicial custody, sources confirmed.

(With inputs from agencies.)