ED arrests former Andaman MP, 2 others in bank fraud case
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Summary
The ED has arrested former Andaman and Nicobar MP Kuldeep Rai Sharma along with two bank officials in a ₹500 crore bank fraud case. As former chairman of Andaman Nicobar State Cooperative Bank, Sharma...
Key Details
Published
17 September 2025 at 07:00 pm
Source
Hindustan Times
Channel
NA
Victim Profile
NA
State
Andaman and Nicobar Islands
City
Port Blair
Amount Loss Range
> ₹10000000
Fraud Keywords
shell companiesfraudulent loansbank official collusioncooperative bank fraudloan diversioncash kickbacksshell entitiescommission schememoney laundering
Tags
Digital Footprint
Kuldeep Rai Sharma (Former MP and Bank Chairman)K Murugan (Managing Director of ANSCB)K Kalaivanan (Loan Officer of ANSCB)Andaman Nicobar State Cooperative Bank Ltd (ANSCB)₹500 crore (total fraud amount)₹230 crore (amount for Sharma's benefit)5% commission schemePMLA caseOver 100 fraudulent loan accountsED Kolkata Zonal officeCrime and Economic Offences Cell, Andaman and Nicobar Police (case originator)