Sun Jan 12 08:34:12 UTC 2025: **ED Arrests Four in Bihar Cooperative Bank Embezzlement Case**

Patna, Bihar – January 12, 2025 – The Enforcement Directorate (ED) arrested four individuals, including a former CEO, on Sunday in connection with a money laundering investigation involving the Vaishali Shahri Vikas (VSV) Cooperative Bank in Bihar. The arrests follow raids conducted on January 10th targeting RJD MLA and former Bihar minister Alok Kumar Mehta, and others linked to him.

The investigation centers on alleged embezzlement of approximately ₹85 crore from the bank, with the fraud allegedly perpetrated through roughly 400 loan accounts using fraudulent warehouse receipts. Those arrested are former VSV CEO Vipin Tiwari, his father-in-law Ram Babu Shandilya, Nitin Mehra, and Sandeep Singh. They have been remanded to judicial custody.

Mr. Mehta, a promoter of the bank, is implicated in the alleged scheme. The ED investigation is based on state police FIRs and a Reserve Bank of India (RBI) verification that revealed the alleged fund diversion. The RJD has criticized the ED action, claiming it is politically motivated.

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