A massive ₹100 crore bank scam has surfaced in Bihar, implicating RJD MLA and former minister Alok Mehta. The Enforcement Directorate (ED) conducted raids at 16 locations linked to Mehta, reigniting discussions about past allegations.
Scam Details
The scam revolves around a cooperative bank that operated for 35 years before the RBI suspended its financial activities in June 2023. Investigations revealed fraudulent loans issued under farmers’ names using forged documents. Two companies, Lichchhavi Cold Storage Pvt. Ltd. and Mahua Cooperative Cold Storage, were allegedly involved in siphoning ₹60 crore from the bank.
Accusations Against Mehta
Alok Mehta and his family have been accused of orchestrating the fraud during his tenure as the bank’s chairman. Mehta’s nephew has also pointed fingers at him, intensifying suspicions.
Fallout
Following the RBI’s action and the scam’s revelation, account holders have started protests. Two FIRs have been filed at Hajipur Nagar police station, while the bank’s CEO and manager remain absconding. Investigative agencies are delving deeper into the case to uncover its full extent.
