Maha: Two held for Rs 22.87 cr bank fraud in Latur

Latur, Jan 25 (PTI) Police have arrested two persons for the alleged embezzlement of Rs 22.87 crore from a nationalised bank in Maharashtra's Latur district, an official said.

According to tehsilar Mahesh Parandekar, who is the complainant in the case, an order was issued to distribute funds under the government's Jalyukt Shivar Abhiyan, a water conservation project, a police official said.

Accordingly, two demand drafts were given to water conservation officers to disburse the amounts of Rs 12,27,297 and Rs 41,06,610 through RTGS (Real Time Gross Settlement).

When relevant documents were submitted to the bank, it was found that the balance in the account was only Rs 96,559, police inspector Sanjivan Mirkale said.

An audit was then conducted through which an alleged embezzlement Rs 22.87 crore came to light, he said.

Based on a complaint by the tehsildar, the police on Sunday arrested two employees of the local revenue department, the official said.

A case was registered against the accused under relevant provisions, he said, adding that further investigation was on into the case. PTI COR GK GK