A major scam has surfaced at Mahalakshmi Urban Cooperative Bank in Gokak, where 14 people, including five bank employees, allegedly defrauded the bank of Rs 74.86 crore by taking loans and not repaying them.
Thousands of depositors are in distress, with many losing their life savings. The complaint, filed by Chairman Jeetendra Mangalekar, claims the group orchestrated the scam between July 2021 and April 2023.
The accused allegedly deposited Rs 6.97 crore initially, securing loans of Rs 81.83 crore over three years under false pretenses.
