The Enforcement Directorate (ED) has arrested four individuals, including former CEO Vipin Tiwari, in connection with a money laundering probe tied to alleged embezzlement at Bihar’s Vaishali Shahri Vikas Co-operative Bank Ltd. The bank is promoted by Rashtriya Janata Dal (RJD) MLA and former Bihar minister Alok Kumar Mehta, according to official sources.
As part of the investigation into a massive Rs 85 crore fraud, the ED conducted raids at several locations across Bihar, West Bengal, Uttar Pradesh, and Delhi. Alongside Vipin Tiwari, the arrested individuals include his father-in-law Ram Babu Shandilya, Nitin Mehra, and Sandeep Singh.
All four accused were produced before a PMLA court and subsequently remanded to judicial custody. The probe stems from FIRs filed by state police against the bank and its officials for large-scale embezzlement of funds.
The investigation continues as authorities work to unravel the full extent of the fraud and the network involved.
