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ED files complaint against BJP Leader in Bank Loan Fraud Case


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The Enforcement Directorate (ED) has recently filed a Prosecution Complaint (PC) against Digambar Rohidas Agawane, a BJP leader from Satara, and others in a bank loan fraud case. The complaint was lodged at the special Prevention of Money Laundering Act (PMLA) court in Mumbai on March 2, and the court acknowledged it on March 4.

The investigation by the ED was initiated based on 12 fraud-related First Information Reports (FIRs) registered by the Maharashtra Police against Agawane and others. The ED’s investigation revealed that Agawane was involved in obtaining fraudulent loans by double-mortgaging properties with multiple financial institutions and intentionally mortgaging disputed properties to avail loans. These loans were then misused for personal gain by diverting them through various related entities.

According to the ED, Agawane used tactics such as creating dummy directors, promising them employment, and purchasing paper companies to obtain loans. He would then divert the loan proceeds taken in the name of these dummy directors for his own personal gain.

The proceeds of the crime generated by Agawane and his associates are estimated to amount to Rs 12.8 crore, and this figure may increase as the investigation progresses.

Agawane was arrested by the ED on January 5, 2024, and is currently in judicial custody.

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