Former Pune Leader Arrested in Bank Fraud Case

The Enforcement Directorate (ED) has arrested Mangaldas Bandal, the former chairman of the Pune Zilla Parishad, in connection with a money laundering investigation. The agency conducted extensive raids on Bandal’s residences and offices, resulting in the seizure of Rs 5.6 crore in cash, five luxury cars, and wristwatches valued at over Rs 1 crore. The raids took place in various locations including Shikrapur, Burunjwadi, and Mohammed Wadi. Bandal was already under investigation by the Income Tax Department for financial irregularities and tax evasion. His family members, including his wife Rekha and two brothers, were also interrogated during the ED's operation. Previously, Bandal faced legal troubles under the Maharashtra Control of Organised Crime Act (MCOCA) for allegedly threatening a jeweller and was implicated in the Shivajirao Bhosale Bank scam, as well as financial misconduct within the Pune Zilla Parishad Construction Committee. In May 2021, Bandal was arrested for his involvement in a Rs 392.92 crore cooperative bank fraud and spent 20 months in jail before being released on bail. On Wednesday, a special MP and MLA court remanded him to ED custody until August 29, as the agency seeks to investigate further into the bank scam. ED prosecutor RR Yadav accused Bandal of misusing loans obtained in the names of business associates and farmers for personal gain, including a Rs 2.5 crore loan taken in 2007 for a banquet hall that was operational until 2014.