Ex-CEO of co-op bank in K'taka found dead

July 07, 2020 14:30

A former CEO of a cooperative bank, which was being probed for alleged financial fraud, was found dead in his car in Bengaluru, police said on Tuesday. Police suspect that Vasudeva Maiya may have committed suicide by consuming poison but they hastened to add that the exact cause death would be known only after detailed investigation.

The 70-year-old was found dead in his car which was parked by the roadside near Subramanyapura on Monday night, they said. The Anti Corruption Bureau recently raided the office and residence of Maiya and a few other executives of the Guru Raghavendra Sahakara Bank in connection with the alleged fraud.

The cooperative bank's alleged irregularities came to light in January this year when the Reserve Bank of India stopped all its businesses and imposed restrictions on withdrawal by its customers.

Following the restrictions, scores of its customers thronged the bank, which was reminiscent of the plight of the depositors in the scam-tainted PMC Bank in Mumbai. -- PTI

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