ED conducts raids at 10 places in Karnataka in District Cooperative Bank scam

New Delhi [India], April 8 (ANI): The Enforcement Directorate (ED) on Tuesday conducted raid at 10 locations in Bengaluru and Shivamogga in Karnataka in connection with the District Cooperative Bank scam, the agency said.
The federal agency launched simultaneous searches at these locations across Bengaluru and Shivamogga based on specific inputs under Prevention of Money Laundering Act (PMLA).
The operations are part of an ongoing investigation into an alleged scam involving the District Cooperative Bank.
According to officials, the searches are aimed at gathering evidence related to suspected financial irregularities and money laundering linked to the cooperative bank.

ED has been tracking multiple leads following reports of misappropriation of funds within three banks' operations as multi-crore fraud committed by the directors, chief executives and staff members of the management board of Sri Guru Raghavendra Co-operative Bank Limited, Bengaluru; Sri Vasista Credit Souharda Co-operative Limited, Bengaluru; and Sri Guru Sarvabahuma Souharda Credit Co-operative, Bengaluru. (ANI)