Ex-CEO Of Fraud-Hit Bengaluru Cooperative Bank Found Dead

7 Jul, 2020 16:27 IST|Sakshi Post

BENGALURU: Former CEO of cooperative Guru Raghavendra Sahakara Bank, probed for alleged financial fraud, was found dead in his car on Tuesday in Bengaluru.

Police suspect that deceased Vasudeva Maiya, 70, may have died by suicide by consuming poison. However, police said that the exact cause of the death will be known only after an investigation.

Police said he was found dead in his car which was parked by the roadside near Subramanyapura on Monday night.

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, bringing back the memories of the plight of the depositors in the scam-tainted PMC Bank in Mumbai.

The Bengaluru South BJP MP Tejasvi Surya recently appeared in the Karnataka High Court on behalf of the depositors, who are fighting to recover their money through legal battle. Subsequently, the ACB has reportedly speeded up its investigation into the alleged irregularities.

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