Alleged Misuse of Dormant Accounts by Spiritual Figures Raises Complex Legal Concerns
A complaint of significant financial irregularity involving an amount of 3.15 crores has been officially lodged against high-ranking personnel at the Shree Mahalakshmi Co-operative Bank, situated in Dabhoi, Vadodara. This development coincides with the bank’s ongoing financial challenges, making the situation even more concerning. Allegedly, the General Manager, Assistant General Manager, and an Officer of the bank collectively referred to as the “Margabaj trio” are implicated in the alleged fraudulent activities.
Perpetrators Identified in Alleged 3.15 Crores Fraud Case
According to gathered information, a substantial fraud amounting to 3.15 crores has been brought to light, and the individuals implicated in this incident have been identified as follows:
- Sureshbhai Chhotalal Patel, a resident of B-49, Nilambar Angan, located near Soma Lake in Vadodara.
- Yatinbhai, who served as Assistant General Manager and subsequently assumed the role of General Manager at Shree Mahalakshmi Co-operative Bank in Dabhoi.
- Mahendrabhai Joshi, whose residence is registered as E-1, Abhishek Apartment, Reva Park, situated near Garba Ground on Waghodia Road in Vadodara.
- Umesh Shantilal Kansara, holding residence at B-24, Shubha Lakshmi Society, Vishwamitri Road, Manjalpur, Vadodara.
The alleged fraudulent activities have been attributed to the aforementioned individuals, who purportedly abused their positions of authority within the Shree Mahalakshmi Co-operative Bank to orchestrate the fraudulent transaction.
Bank’s General Manager Files Police Complaint Alleging 3.15 Crore Fraud
Gaurangkumar Chandrakant Pancholi, the General Manager of Shree Mahalakshmi Cooperative Bank located in Dabhoi, has formally lodged a complaint with the Dabhoi Police Station. The complaint pertains to an alleged fraud involving an amount of 3.15 crores INR. Mr. Pancholi, a resident of C-803, Ratnam Oasis, situated near Rangwatika on Waghodia Road in Vadodara, has identified three individuals as the subjects of the complaint. The accused individuals named in the complaint are Sureshbhai Patel, Yatin Joshi, and Umesh Kansara.
Misuse of Dormant Accounts in Alleged 3.15 Crore Fraud Case
Recent information has shed light on the alleged involvement of the accused trio in an intricate financial scheme. Reportedly, the trio exploited dormant accounts associated with two saints from the Swaminarayan temple in Dabhoi as part of their fraudulent activities. These dormant accounts, colloquially referred to as “doormat” accounts, were utilized to withdraw a substantial sum of 3.15 crore INR from the bank through the deposit of fraudulent checks. The following account details elucidate the sequence of events.
Forgery and Fraud Allegations Unveiled in Official Complaint
A complaint lodged by General Manager Gaurangkumar Pancholi has brought to light a complex web of alleged fraudulent activities, with particular emphasis on the forgery of signatures. The complaint asserts that Suresh Patel, a former manager within the bank, was engaged in activities that led to his dismissal by the bank’s chairman, Arunbhai Muljibhai Patel, effective from June 30, 2023. This development was prompted by a notice issued to the bank by the Reserve Bank of India (RBI) located in Ahmedabad.
Forgery and Misuse of Signatures
The complaint outlines a concerning sequence of events, alleging that the accused trio—Suresh Patel, Yatin Joshi, and Umesh Kansara—forged signatures on different occasions. These forged signatures were used to facilitate the fraudulent withdrawal of a substantial sum, amounting to 3.15 crores INR, from dormant accounts associated with Swami Devaswarupdas Gurukrishna Prasad and Sant Priyadas Krishnaprasad. These accounts, described as “useless,” were utilized as conduits for the fraudulent transactions.
Dabhoi Police Launch Investigation and Register Case in Accordance with RBI’s Directive
Following a comprehensive investigation, the Dabhoi police have initiated a legal process based on the directives issued by the Reserve Bank of India (RBI). The current Bank Manager, Gaurangkumar Pancholi, has complied with the RBI’s instructions and filed an official complaint against the individuals implicated in the alleged fraudulent activities. This formal complaint targets Suresh Patel, Yatin Joshi, and Umesh Kansara.
One Accused Flees Abroad, Another Undergoing Treatment
Recent information reveals that among the three accused individuals, one has reportedly fled abroad. This unexpected development introduces a new layer of complexity to the ongoing investigation. Additionally, it has come to light that another accused individual is currently receiving medical treatment in a hospital due to deteriorating health.
