Replying to a question in the Maharashtra Legislative Assembly, Chief Minister Devendra Fadnavis informed the House that cooperative banks in Jalna district suffered losses of over Rs 61 crore in warehouse receipt frauds involving bogus storage receipts used to secure loans.
He said Motiram Agrawal Jalna Merchant Cooperative Bank suffered a loss of Rs 53.24 crore after loans were obtained against forged warehouse receipts, while Purnawadi Nagarik Sahakari Bank was allegedly defrauded of Rs 8.12 crore through a similar modus operandi.
Investigations found that loans were sanctioned in the names of persons shown as farmers, though many were actually labourers, drivers and other wage earners.
Fadnavis also informed the Assembly about a separate case at the Ambad branch of Motiram Agrawal Jalna Merchant Cooperative Bank, where officials and employees allegedly misappropriated pledged gold worth Rs 96.41 lakh and replaced it with fake gold.
All accused identified in the cases have been arrested. Assets worth Rs 8.15 crore have been frozen, while the Economic Offences Wing, Jalna, is investigating the warehouse receipt frauds.
