Nagpur: Former Congress MLA Ashok Dhawad on Monday surrendered before Session Court. Dhawad and his wife Kiran has been accused of multi-crore Navodaya Bank scam.
Dhawad, who was the bank’s director between 2011 and 2015, had been charged with fraud, forgery and criminal breach of trust along with 16 other ex-directors of the bank. In the scam pertaining to misappropriation of funds in Navodaya Urban Cooperative Bank, Dhawad along with 16 other bank directors have been booked by the Economic Offences Wing (EOW) on the basis of a complaint lodged by the auditor of State Department of Cooperatives.
Last month, the former CEO of the bank, Samir Chatte was arrested by the sleuths of EOW. With Chatte’s arrest the number of arrests in the case climbed to 23 while 40 others are still absconding.
All of them were accused of duping hundreds of investors by distributing bogus loans between 2010 and 2015. Subsequently, the cooperative bank had gone into liquidation after its banking license was cancelled few months ago. Frauds were reported following an audit conducted for financial years 2015-16 and 2016-17 allegedly involving Dhawad and his team of directors.
