Rs 79 cr fraud case against Genco chairman

ahmedabad: a case of fraud was registered against the chairman of general cooperative bank, on friday, for allegedly defrauding the bank to the tune of rs 79 crore. according to the police complaint filed by legal officer harshad shah of the bank , genco chairman hasmukh shah along with 10 people had allowed siphoning out of money to various friends and relatives as loans on the basis of fake and fraudulent documents.the others involved included managing director manharlal shah, general manager dilip shah, branch heads of ashram road and cg road - ashok thakkar and pravin shah. chairman's nephews- harish shah and upendra shah - and his son maulesh shah have also been named. the chairman's friend arvind shah is also an accused. according to police inspector b d tandel, the complaint was first lodged before the bank's board of nominees. the investigations revealed that the property mortgaged against the loans were non-existent. the matter was subsequently reported to the police. "there could be more accused in the case and the amount involved in the fraud can also go up", tandel added.