Bengaluru: Vasudeva Maiah, former CEO of Raghavendra co-operative Bank, found dead inside his car

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Updated: Jul 07, 2020 10:08 AM

Vasudeva Maiah, former CEO of Sri Guru Raghavendra Co-operative Bank, found dead in his car in Bengaluru.

Raghavendra Co-operative BankBengaluru: Sri Guru Raghavendra Co-operative Bank former CEO Vasudeva Maiah found dead.

Sri Guru Raghavendra Co-operative Bank’s former CEO Vasudeva Maiah was found dead inside his car in Bengaluru on Monday, news agency ANI reported.

According to reports, Maiya, 70, was found dead inside his car parked by the road away from his home in Chikkalasandra under the limits of Subramanyapura police on Monday night.

Police said forensic teams have been informed and are arriving at the incident site to collect evidence. Police said it would be premature to conclude that it was a suicide, adding that an investigation into the case is underway.

On June 18, the anti-corruption bureau (ACB) had raided five of his locations in Bengaluru over alleged financial irregularities in the bank.

According to media reports, bank officers and employees had allegedly transferred Rs 1,400 crore to unverified accounts including diversion of deposits by the bankers. Besides, loans to the tune of Rs 150 crore were granted to 60 fake account-holders.

The cases of alleged irregularities are being probed by multiple agencies — Enforcement Directorate, CID, RBI and Registrar of Cooperative Societies.

A petition has also been filed in the Karnataka High Court over delay in the probe following which the HC had pulled up agencies.

The bank gained media attention after the RBI in January this year stopped all banking activity and also imposed withdrawal limits for depositors.

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