In the case of the Shivajirao Bhosale Sahakari Bank scam, the Directorate of Enforcement (ED) has temporarily attached properties worth about Rs 26.60 crore. The connected properties comprise 23 immovable properties owned by Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav, and Ms Nusrat Shanur Mujawar, as well as Anil Shivajirao Bhosale’s stock interests.
In 2020, the ED launched a money laundering inquiry based on an FIR filed by Shivajinagar Police Station in Pune in response to a complaint submitted by the Statutory Auditor of Shivajirao Bhosale Sahakari Bank.
The ED investigation revealed that the accused persons committed financial fraud in a variety of ways, including cash syphoned off from the bank on oral instructions without any official entry/record in the Core Banking System; misappropriation of bank funds by transferring large sums to themselves and related parties; fraudulent disbursement of loans and diversion of such loans by the bank’s Key Management Personnel and others; and bogus cheque discounting facility used to reduce t The bank’s Top Management Personnel regarded the bank and its finances like a family business and used the diverted monies for personal advantage. The overall proceeds of crime in the case amount to about Rs 494 Crore.
On 15.01.2021, searches were undertaken in this case, and four accused people were detained under the PMLA on 05.03.2021. They are all under judicial detention. Thus far, the ED investigation has shown that Anil Shivajirao Bhosale, Suryaji Pandurang Jadhav, and the late Shanur Akbar Mujawar are the primary beneficiaries of this financial scam. The ED has discovered and attached immovable assets in Pune and Kolhapur worth around Rs 25.53 crore, as well as equity interests in Anil Shivajirao Bhosale’s DEMAT account worth approximately Rs 1.06 crore. Further research is being conducted.
