CBI Register a Case of Demonetization Fraud on MD, Jalgaon District Central Cooperative Bank for fraudulently exchanged unaccounted old demonetised currencies which were in his possession, aggregating to Rs.73.32 lakh


CBI REGISTERS A CASE AGAINST MANAGING DIRECTOR OF JALGAON DISTRICT CENTRAL COOPERATIVE BANK LTD & TWO OTHER OFFICIALS FOR AN ALLEGED VIOLATION OF RBI GUIDELINES; AND CONDUCTS SEARCHES

CBI Press Release New Delhi, 02.03.2017

The Central Bureau of Investigation has registered a case against MD, Jalgaon District Central Cooperative Bank Ltd, Jalgaon (Maharashtra); Branch Manager & Cashier, both working in Jalgaon District Central Cooperative Bank Ltd, Chopda, Jalgaon and unknown others U/s 120B of IPC r/w 420, 468, 471, 477-A & 13(2) r/w 13(1)(d) of PC Act, 1988 and substantive offences. It was alleged that post demonetisation on 09.11.2016, the MD of said Bank fraudulently exchanged unaccounted old demonetised currencies which were in his possession, aggregating to Rs.73.32 lakh(approx) by exchanging it with currency of Rs.100/-denomination from the collection of Jalgaon Cooperative Bank, Chopda as on 08.11.2016 in connivance with Branch Manager & Cashier of said bank by forging the entries in the books of bank accounts.

Searches were conducted today at the official & residential premises of the said accused persons at Jalgaon which led to recovery of incriminating/relevant documents including the books of accounts of Chopda Branch.

Further investigation is continuing.


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