Pune Cooperative Bank Officials Booked Over Alleged ₹34.77 Crore Misappropriation

Pune city police have registered a case against two officials of a cooperative bank and their alleged associates in connection with suspected financial irregularities involving approximately ₹34.77 crore at the bank’s Pune branch during the period from January 2018 to December 2025.

The FIR was registered at Deccan Gymkhana Police Station, following a complaint filed by a 53-year-old bank auditor. The investigation has subsequently been transferred to the Economic Offences Wing (EOW) of Pune Police.

The alleged irregularities came to light during a recent audit of the bank’s Prabhat Road branch. According to the complaint, the accused allegedly misused their official positions to facilitate financial transactions that were not authorised under the bank’s established procedures.

The allegations include sanctioning interest-free loans to themselves and certain unauthorised third parties, creating fabricated corporate information to represent dummy entities as bank subsidiaries, and preparing allegedly false financial statements. The complaint also refers to purported inflation of maintenance expenses and the sale of mortgaged properties without obtaining appropriate management approval.

Investigators have further alleged that additional funds were credited without authorisation to the accounts of certain borrowers. The EOW is examining the transactions, records, roles of the accused persons and the extent of the alleged financial loss as part of the ongoing investigation.

The allegations are subject to investigation, and liability will be determined through the applicable legal process. CASansaar