ED searches nine Yavatmal locations in Rs 242 cr Co-op Bank fraud case

Mumbai, Sep 30 (UNI) The Enforcement Directorate (ED), Mumbai Zone, on Wednesday conducted searches at nine locations in Yavatmal district in connection with an alleged Rs 242 crore fraud at Babaji Date Mahila Sahakari Bank. The searches were carried out under the provisions of the Prevention of Money Laundering Act (PMLA), the agency said. The case follows multiple FIRs registered at Avdhutwadi Police Station, Yavatmal, against bank officials, employees and borrowers over alleged irregularities in loan disbursement. A special audit ordered by the Maharashtra government had flagged alleged irregularities in loans sanctioned by the then CEO, chairperson/chairman, directors and other…