In a significant development, a case has been filed against the General Manager and several associates of New India Cooperative Bank for allegedly embezzling a staggering sum of Rs 122 crore. The complaint, lodged by the bank’s internal audit team, highlights discrepancies in financial records that point towards a sophisticated scheme of financial misappropriation. The accused, who have been under scrutiny for some time, are alleged to have manipulated bank records to siphon off funds over a period of several years. Authorities are now conducting a thorough investigation to uncover the full extent of the fraud and bring those responsible to justice. This case has sent shockwaves through the banking sector, raising concerns about internal controls and governance within financial institutions.
