Former RBI deputy general manager Abdul Bari Khan who is involved in the Rs. 650 crore Pen urban cooperative bank scam has finally surrendered before the court.
Khan had submitted a false report on the bank’s financial situation. This came to light when another RBI official examined the bank’s accounts pointing out serious irregularities in them.
Tens of thousands of investors and depositors are affected by the scam. The news of Mr. Khan’s surrender has caused happiness among them.
Representative of the affected bank depositors’ group, Naren Jadhav said, “We are happy that he is finally behind bars.” He added that as many as 1.98 lakh affected investors are hoping to get their money back through court by way of various property assets accumulated by the bank trustees and directors through this scam.
The irregularities meant a loss of Rs.650 crore to the urban cooperative bank. Sources claim the scam is supposed to have greatly enriched the bank’s trustees and directors.
Govt.acquired land belong corrupted pen banks officers& dharkar s.