Vivekanand Shankar Patil was the chairman of Karnala Nagari Sahakari Bank Ltd. The Enforcement Directorate (ED) has attached assets worth ₹234 crore linked to former MLA Vivekanand Shankar Patil, who was the chairman of Karnala Nagari Sahakari Bank Limited, in connection with a bank fraud case. The ED arrested Mr. Patil on June 15 and filed a charge-sheet against him on August 12. In order to avoid detection, the available funds were routed to the fictitious accounts and then to several bank accounts of entities founded or controlled by Mr. Patil, as alleged. These funds were used by the Karnala Charitable Trust, Karnala Sports Academy, etc., for the construction of properties such as a sports complex, college and schools and for other personal gains, according to the ED.

Source: The Hindu August 17, 2021 14:03 UTC