Bank Heist Foiled: Arrest of Vikramgad's Urban Leader

In Maharashtra's Palghar district, the president of a local governing body was arrested for attempting to embezzle Rs 111 crore using forged documents. The plot was uncovered by alert bank officials at State Bank of India, leading to the arrest of Nilesh Padwale and filing of charges against an accomplice.

In a dramatic turn of events in Maharashtra's Palghar district, police have apprehended Nilesh alias Pinka Ramesh Padwale, the president of Vikramgad Nagar Panchayat. Padwale attempted to siphon off Rs 111 crore using forged documents, an act foiled by diligent officials from a leading public sector bank.

The incident unfolded when the Jawhar branch of the State Bank of India received a suspicious request for a demand draft purporting to be from the Public Works Department (PWD). Several inconsistencies prompted the bank to investigate further, unveiling the craftily designed scam.

Upon in-person verification, bank managers discovered inaccuracies in the document and fraudulent signatures, leading to Padwale's arrest. The police have charged him and an associate under cheating and forgery, marking a significant crackdown on financial fraud.

(With inputs from agencies.)