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...