BENGALURU: CID officials on Tuesday conducted raids on a few businessmen who had allegedly used fake documents to avail of loans from Sri Guru Raghavendra Cooperative Bank.
Vasudev Maiya, former CEO of the bank, recently committed suicide by consuming poison in his car. The Karnataka High Court had handed over the case to CID and it is the first raid they conducted in this connection. Police said CID sleuths searched 15 houses in Shivajinagar, Sadashivanagar, Ulsoor, Rajajinagar and Jayanagar and arrested 11 businessmen.
The bank was involved in a multi-crore scam in which the staffers are said to have given loans to people by taking kickbacks. Officials raided the bank, residences and offices of the staffers. “The accused are in three-day police custody. Maiya had mentioned the names of the accused in his suicide death note,”
police said.