Bhatpara Naihati Co-op Bank scam: 2 held, several under cop radar

Kolkata: Two persons including the former Chief Executive Officer (CEO) of Bhatpara Naihati Cooperative Bank were arrested on Sunday in connection with a financial scam case. They were produced at the Barrackpore ACJM Court on Monday and were remanded to police custody for seven days.

According to police, the former CEO, Chandranath Bhattacharya, who is at present working at the Bhatpara Naihati Cooperative Bank as Officer on Special Duty (OSD) is aware about the whole scam.

He allegedly maintained close liaison with the Chairman of the Bank and BJP MP Arjun Singh and had done all the paperwork for sanctioning and disbursing of the loans.

During investigation police traced his involvement from the beginning of the malpractice till the last loan was disbursed. He had allegedly signed the approval letter as well. Cops have also arrested a person identified as Avijit Chakraborty who had received a good amount of money as loan from the bank. Chakraborty is a contractor and had good relation with Singh.

Sources informed that several more people are under scanner of the police and may get arrested soon. However, investigating officials suspect that more names will come to light during interrogation of the duo arrested.

On February 10, a Trinamool Congress leader of Bhatpara area, Somnath Shyam lodged a complaint alleging irregularity in funds of the bank. During investigation, police found that around Rs 12 crore have been misappropriated by means of sanctioning loans against several work orders. But none of the works were done.

While investigating the case, cops conducted a raid at Singh's house along with several other places and had seized several incriminating documents regarding the financial irregularity.