Bihar Cooperative Bank Fraud: ED Detains Five, RJD MLA Faces Increasing Challenges
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Patna, Jan 12 (NationPress) The situation for Alok Mehta, a prominent RJD MLA and trusted associate of Lalu Prasad Yadav, is becoming increasingly precarious following the arrests linked to a suspected Vaishali Urban Development Cooperative Bank fraud.
The Enforcement Directorate (ED) has detained five individuals, among them two of Mehta's family members -- Rambabu Shandilya and Vipin Tiwari -- heightening speculation regarding the possible legal and political ramifications he may encounter.
Given his close ties to RJD leader Lalu Yadav and Mehta's significant role within the party, this incident could have far-reaching consequences for the political dynamics of the Rashtriya Janata Dal (RJD).
There is ongoing chatter that Mehta might himself fall under investigation as the inquiry progresses, potentially resulting in further actions from law enforcement.
The ED has escalated its inquiries into the alleged Rs 85 crore scam associated with the Vaishali Urban Development Co-operative Bank, taking substantial steps in the investigation.
The agency executed raids in various cities and made arrests, uncovering a network of purported financial misconduct involving notable personalities.
ED apprehended Vipin Tiwari, the CEO of Vaishali Cooperative Bank, along with his father-in-law Rambabu Shandilya (who is tied to a Rs 30 crore scam in Purvanchal Cooperative Bank Ghazipur), Nitin Mehra (from Delhi), Sandeep Singh (from Kolkata), and Pankaj Tiwari (from Varanasi).
While three of the suspects (Nitin Mehra, Rambabu Shandilya, and Pankaj Tiwari) were remanded to judicial custody on Saturday, Vipin Tiwari and Sandeep Singh continue to be interrogated.
Raids were executed in Patna, Varanasi, Delhi, Kolkata, and other sites, including locations associated with RJD MLA Alok Mehta and his affiliates.
The chairman of the bank, Sanjeev Kumar, is also being investigated and remains unaccounted for despite ongoing ED operations.
The Vaishali Urban Development Co-operative Bank was established 35 years ago by Tulsidas Mehta, the father of Alok Mehta.
Alok Mehta held the position of bank chairman from 1995 to 2012. However, in 2015, the RBI suspended the bank’s financial activities due to allegations of extensive embezzlement. A report by the RBI in June 2023 exposed a significant scam, which led to the filing of three FIRs in Hajipur and the ED taking over the investigation.
Given Alok Mehta's connections to the bank's past and the involvement of his associates in the current probes, he may face severe consequences. His past tenure as the bank’s chairman is under review, and the ED may broaden its investigation to include his involvement in earlier operations.
