Former MP of Andaman and two others arrested in the cooperative bank fraud case, which was sent to ED's detention - former MP of Andaman and two others arrested in the cooperative bank fraud case

Former MP of Andaman and two others arrested in the Cooperative Bank Fraud case, which was sent to the conservation of ED: Do, 18 Sep 2025 04:16 am (IST) Ed on Wednesday arrested former Andaman and Nicobar Islands and the Congress Leader Kuldeep Rai Sharma and two others in the money wide rules. Such arrests were made for the first time by the ED under the Money Laundry Prevention Act in the Union area. Officials said that 57 -year -old Sharma is the former president of ANSCB. Former MP of Andaman and two other arrested (filing photo) Pti, New -Delhi in the Cooperative Bank Fraud case. The ED on Wednesday arrested the former MP of Andaman and Nicobar Islands and congressional Kuldeep Rai Sharma and two others in the money laundering case related to the cooperative bank loan fraud. Such arrests were made for the first time by the ED under the Money Laundry Prevention Act in the Union area. Remove ad, just read the news, officials said that 57 -year -old Sharma is former president of Andaman and Nicobar State Cooperative Bank (ANSCB). The two other arrested are the managing director of the bank’s Murugan and the Kalanan of the bank’s loan officer. Officials said the special PMLA court sent them to ED for three to eight days. This investigation is related to alleged fraud in ANSCB. The ED said the investigation revealed that loans were approved by more than 100 accounts in the name of various firms and mask businesses, and disregarded the bank’s prescribed procedures and guidelines and the amount involved in fraud is more than Rs 500 crore. The evidence collected so far also shows that a loan amount of Rs 230 crore is fraudulent from Kuldeep Rai Sharma and his co -workers for the benefit of fraud.