Case against CEO of a UCB in Maharashtra

Police say a criminal case has been registered against the CEO of a co-operative bank in Maharashtra for alleged involvement in tampering with the account of a customer and sanctioning overdraft facility of Rs 25.60 crore to 16 companies, reports PTI.

Police acted on the complaint filed by the bank customer who is based in Ulhasnagar town.

Police sources say, the complainant had overdraft facility with the co-operative bank of Rs 6 crore and had pledged his property documents with the bank.

The bank CEO allegedly misused these documents and tampered with the businessman’s account to fraudulently sanction Rs 25.60 crore under overdraft facility to 16 companies, police said.

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