A Bank MD and Cashier have been remanded by Court in Rajasthan.
A court in Jaisalmer has remanded Jagdish Suthar, the former managing director (MD) of the Central Co-operative Bank, and Vivek Sain, the former cashier. They were arrested on April 17th for allegedly embezzling ₹70 lakh in farmers’ claims through forged signatures.
The police have already arrested the accused administrator Naresh Kumar in the case. In Both accused held current positions, and a search is underway for another.
The arrested former MD, Jagdish Suthar, currently serves as the Deputy Registrar in Barmer, while Vivek Sain is the Mohangarh Cooperative Manager. Chandan Branch Manager, Ashwini Kewalia, is absconding and is being sought by police.
According to Sam Police Station in-charge Prahlad, approximately ₹70 lakh was embezzled from the Kanoi Village Service Cooperative Society in 2020.
An investigation revealed that the funds were withdrawn using the forged signature of President Roze Khan.The then-MD, Jagdish Suthar, and administrator Naresh Kumar colluded to misappropriate agricultural claim funds from 70 farmers. Despite Naresh’s removal on August 30, 2020, payments of Rs. 20 lakh were made on September 8 and Rs. 50 lakh on September 25.
Police said the fraud surfaced in 2020 at Kanooi Gram Seva Sahakari Samiti, where the money was allegedly siphoned off after being routed through the bank’s Chandhan branch. ASP Revantdan said samiti chairman Roje Khan alleged that funds were withdrawn using his forged signatures. Investigators said the claim amount was deposited in the society’s main account and then transferred to the Chandhan branch. Instead of being credited to farmers’ accounts, the money was withdrawn and misappropriated.
Investigation revealed that despite the main account being in Jaisalmer, the payment was made from Chandan branch and the amount was not transferred directly to the farmers’ accounts.
An investigation under sections 55 and 57 of the Cooperative Act found MD Jagdish Suthar, administrator Naresh Kumar, branch manager Ashwini Kewalia, and cashier Vivek Sain guilty. Naresh is out on bail, while Suthar and Vivek Sain are arrested, and a search is on for Ashwini.
