The troubles of Alok Mehta, a senior RJD MLA and close confidant of Lalu Prasad Yadav, are intensifying as the Enforcement Directorate (ED) tightens its investigation into the alleged Rs 85 crore scam involving the Vaishali Urban Development Cooperative Bank. The ED has arrested five individuals, including two of Mehta’s relatives, Rambabu Shandilya and Vipin Tiwari, which has sparked growing speculation regarding the potential legal and political consequences for Mehta.
Given Mehta’s close association with RJD chief Lalu Yadav and his influential position within the party, this development has broader implications for the political future of the Rashtriya Janata Dal (RJD). The ongoing investigation raises questions about whether Mehta himself could soon come under direct scrutiny, leading to further legal actions.
The Enforcement Directorate has ramped up its probe into the financial irregularities at the Vaishali Urban Development Co-operative Bank. Raids have been conducted across several cities, uncovering connections to prominent figures involved in the Rs 85 crore scam.
Among those arrested is Vipin Tiwari, the CEO of the Vaishali Cooperative Bank, along with his father-in-law Rambabu Shandilya, who is linked to a previous Rs 30 crore scam in the Purvanchal Cooperative Bank in Ghazipur. Other arrested individuals include Nitin Mehra from Delhi, Sandeep Singh from Kolkata, and Pankaj Tiwari from Varanasi. While three of the accused have been sent to judicial custody, Vipin Tiwari and Sandeep Singh are still under interrogation.
The ED’s investigation has revealed widespread financial misconduct, with multiple locations raided in Patna, Varanasi, Delhi, and Kolkata. Some of the raids have even targeted hideouts connected to Alok Mehta and his associates. The bank’s chairman, Sanjeev Kumar, remains untraceable despite continued ED efforts to locate him.
The Vaishali Urban Development Co-operative Bank, founded 35 years ago by Tulsidas Mehta, the father of Alok Mehta, has long been at the center of controversy. Alok Mehta served as the bank’s chairman from 1995 to 2012. In 2015, the Reserve Bank of India (RBI) halted the bank’s operations due to allegations of large-scale embezzlement. A report in June 2023 by the RBI revealed a significant scam, which led to the registration of multiple FIRs and the ED taking over the investigation.
With Alok Mehta’s historical ties to the bank and the involvement of his relatives and associates in the ongoing investigations, the RJD MLA now faces significant scrutiny. The ED’s widening probe could potentially extend to his role in the bank’s operations during his tenure as chairman.
