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Embezzlement probe: SOG suspects if V-C used money in engineering Collage

JAIPUR: A day after arresting vice-chairman of city-based engineer college(JECRC) Amit Agerwal  for allegedly embezzling nearly Rs 12 crore, Special Operation Group (SOG) wing of Rajasthan Police on Tuesday said his arrest will take the investigation towards more people including other directors and beneficiaries from the bank. SOG officials also said they will investigate if the embezzled money was used to open the colleges in the state. Without giving the exact number of the accused involved in the embezzlement, a senior officer of the SOG said, " The accused and his associate had floated a cooperative bank in the year 1998. However the license of the bank was cancelled by RBI in 2013 after they detected several irregularities," said a senior officer of SOG on Tuesday. However, officials said SOG has named 25 people in the FIR including the CEO, managing director, board of directors and the beneficiaries. When asked if the SOG will also arrest the chairperson of the Univers...
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Engineering College V-C sent to police custody till March 5 more arrest likes likely

Engineering College V-C sent to police custody till March 5 more arrest likes likely The special operations group of Rajasthan police on Monday arrested vice-chairman of Jaipur Engineering College and Research Centre university Amit Agarwal in connection with a cooperative bank embezzlement case The special operations group of Rajasthan police on Monday arrested vice-chairman of Jaipur Engineering College and Research Centre university Amit Agarwal in connection with a cooperative bank embezzlement case. Agarwal is first out of the 12 accused to be arrested in the Rs 12 crore Vaishali Urban Co-operative Bank embezzlement case. The licence of the bank, set up in 1998, was cancelled by the RBI in 2013 after it detected irregularities during an inquiry in 2008. According to sources, the investigators called Agarwal for questioning on Monday at the SOG office in Jhalana locality and arrested him. He will be produced in a court on Tuesday, additional superintendent of police (SOG) Lal Chand...
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Embezzlement case: Court directs police for more investigation

  Embezzlement case: Court directs police for more investigation JAIPUR: A lower court on Thursday directed police for further investigation' into the alleged embezzlement of over Rs 11.5 crore against the then board of directors of the Vaishali Urban Cooperative Bank. A complaint was filed in the Shyam Nagar police station on December 27 last year on the direction of the court by a concerned citizen. The complaint said that the bank's board of directors comprising of chief operating officer Amit Agarwal (JECRC), MD PC Jain, deputy manager Vijay Kala, manager (loans) Pradeep Jain,) and assistant manager Rahul Jain had embezzled money of the depositors for their personal aggrandizement. The board of directors was accused of investing the public money in shares and other dubious investments for their personal benefit. An investigation by the cooperative department has also established the embezzlement of Rs 11,55,40,474 fraud in the bank. However, police has given a negative repo...
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