Pathanamthitta | Mylapore Co-operative Bank Secretary Joshua Mathew suspended for financial irregularities The action was taken by the bank’s board of directors. An audit of the bank revealed a fraud of Rs 3.94 crore. Following this, the police had registered a case against the secretary in a complaint filed by the assistant registrar of the co-operation department.
The scam took place in the name of Amrita Myfood Roller Floor Factory, a subsidiary of Mylapore Co-operative Bank. An audit conducted by the Co-operation Department on March 8 found irregularities amounting to Rs 3,94,57,566. Secretary Joshua Mathew had registered a stock of wheat worth Rs 3,94,00000 in the Amrita factory. But on examination by Connie ARS Bindu it could not be found.
Joshua Mathew is also the managing director of the factory, which is registered as a private company. According to the complaint filed by AR, the secretary stole money in the name of the factory. During the internal investigation conducted by the Co-operation Department, the employees of the bank had given statements against the secretary and the chairman of the board. Joshua Mathew is due to retire from the bank on the 31st of this month.