Bihar Awami Co-op Bank’s Ahmed remand extended

The police remand of Bihar Awami Cooperative Bank director Arshad Ahmed has been extended in money laundering case involving a sum of nearly Rs 70 lakh following demonetization, reports UNI.

CBI had produced him before the special CBI court judge. Earlier, the court had remanded him to judicial custody till 27th March.

As per FIR, Ahmed had indulged in a criminal conspiracy exchanging nullified notes worth Rs 70 lakh through fake accounts.

Readers would recall an IT raid in the Bihar-based urban cooperative bank Awami Co-op Bank on suspicion of money laundering in the wake of demonetization. The news item gained wide circulation as the UCB’s Chairman was RJD MLC in the past.

He was alleged to be close to RJD Supremo in the past.

Courtesy: indiancooperative.com