Maha Congress leader found guilty in Nagpur co-op bank's Rs 150 cr scam

Nagpur, Dec 22

In a major embarrassment for the Congress, its senior leader and former minister Sunil Kedar and five others were found guilty in the Nagpur District Central Cooperative Bank scam of around Rs 150 crore here on Friday.

Along with Kedar, who was the then NDCCB Chairman, others found guilty are Ketan Sheth, Nandkishore Trivedi, Ashok Chaudhary, Subodh Bhandari -- all from Mumbai, and Amit Verma of Ahmedabad.

Additional Chief Judicial Magistrate Jyoti Pekhale-Purkar has acquitted another three accused in the case involving political bigwigs that continued for nearly 21 years from 2002, while some other related cases are still pending in different states.

Among various charges, Kedar and others were accused of flouting norms by diverting the cooperative bank's funds to private entities for purchasing government securities which led to substantial losses to the NDCCB.