Guwahati: ED arrests former MD of Assam Cooperative Bank in money laundering case

Guwahati: ED arrests former MD of Assam Cooperative Bank in money laundering case

The man was identified as Subhra Jyoti Bharali, who was detained on June 22 and appeared in a special court of the Guwahati Anti-Money Laundering Act (PMLA) on June 23.

The ED said in a statement that the court had sent the former MD of the Industrial Cooperative Bank to seven days of ED custody.

As a result of the investigation, Barali abused his official position and spent about 9.51 rupees on bank money under the guise of paying travel allowances to bank payment collectors and field executives while working as managing director of the bank. It became clear that it was sucked up.Industrial Cooperative Bank, Ltd.

The ED said it stopped this by “indicating other costs that did not actually occur and using the revenue so generated for his personal benefit.”

The money laundering case originated from the Guwahati Police (Panbazar Police Station) FIR, which was filed against Barari for “violating the monetary diversion of bank funds.”