The arrested accused has been identified as Vijayakumar Ramachandra Dayma. The then Chairman, Vice-Chairman, Board of Directors, Officers, Employees and Creditors of Samata Cooperative Bank in Nagpur connived and defrauded the investors to the tune of Rs.145 crores 60 lakhs.
This happened between 1997 and 2007. A case of embezzlement was registered against 57 people in Nagpur’s Sitabuldi police station. This case was being investigated by the Nagpur office of the CID.
Dayama, who was a borrower of the bank, had taken a loan from Samata Bank without collateral. But he was defrauded financially without repayment. The CID team searched the accused Dayama along with his relatives at various places.
But he was not found. Finally, after 17 years, the Financial Offenses Wing of the CID got the information that he was living in Hyderabad. Accordingly, the team arrested Dayma from Hyderabad on May 12. He has been handed over to CID in Nagpur.