The Bihar Economic Trefmens Unit (EU) on Tuesday (July 22, 2025) arrested Mohammed Syed Shahnawaz Wazi’s resident Patna under the Khajekalan police station in connection with the embezzlement of CRORE 101.67 GBP.
The next CEO (ADG) Nayyar Hasnain Khan told Hindu that Mr. Wazi worked as an assistant to a branch and head of the Awami Cooperative Bank, Pirbahore from 1998 to 2013.
He added that by criminal plot in conjunction with other employees of the bank, officials and employees of LIFE Insurance Corporation (LIC) India, agents and brokers LIC was the preparation of false license and opening false credit accounts, a total of 18.17 GBP deposit / public money were guaranteed by fraud and fogers.
In this respect, the case of the Pirbahore police station (Patna) No 229/21, which was investigated by EU in 2024, was registered.
According to Eou, Wazi, as a branch manager, Vaisali Sahakari Vikas Cooperative Bank, Hajipur from 2014 to 2023, hatching of criminal plot with other employees preparing false Policy of LIC and documents of the Bear House / Cooling Warehouse for 8,50505050.
The Municipal Police Station Hajipur filed three cases that were investigated by EU.
“In four cases, about 101 rupees of crore stored by ordinary citizens in banks were embezzled on a large scale.
According to EU, Mr. Wazi has been in these cases in the last 4 years and information on case information (ECIR) in the prevention of the Money Laundry Act (PMLA) was also registered by the Directorate for Certificate (ED).
Mr. Khan also reported that on the basis of evidence found in the primary interrogation of Wazi, two of his collaborators were arrested by a special EU team. They were identified as Shaukat Ali and Rajnikant aka Gopal Prasad, both of the inhabitants of Patna.
“In the course of the investigation, it has become clear that in addition to the main accused of this case with employees and other Awami, Pirbahore, Vaisali Cooperative Bank, cooperative banker Hajipur, life insurance, India, and many brokers are also involved in this criminal conspiracy.”
Published – 23 July 2025 12:40
