<p>Shivamogga: <a href="https://www.deccanherald.com/tags/shivamogga">Shivamogga</a> DCC Bank chairman R M Manjunatha Gowda was arrested on Thursday by the Enforcement Directorate Bengaluru Zonal Office under PMLA for being found involved in money laundering</p><p>According to a press note issued by the ED, Gowda was produced before the Special Court, and custody of the accused was granted to ED for 14 days.</p><p>It further stated that Gowda was found to have many movable and immovable assets during the search operations conducted in Shivamogga and Bengaluru earlier this week. </p>.ED arrests SP leader Vinay Shankar Tiwari, aide in Rs 750-crore bank 'fraud' case.<p>Besides, Rs 62.77 crore funds had been diverted from the Gandhi Bazar branch of DCC bank by the then manager Shobha on the instructions by Gowda. </p><p>The modus operandi was that fraudulent gold loan accounts had been opened in the name of individual account holders without their knowledge through forged documents. </p><p>As per the chargesheet filed by Lokayukta police, Gowda was involved in misappropriation of funds in DCC bank. Further investigation is in progress.</p><p>Gowda is the head of the Malnad Area Development Board and a Congress leader.</p>
<p>Shivamogga: <a href="https://www.deccanherald.com/tags/shivamogga">Shivamogga</a> DCC Bank chairman R M Manjunatha Gowda was arrested on Thursday by the Enforcement Directorate Bengaluru Zonal Office under PMLA for being found involved in money laundering</p><p>According to a press note issued by the ED, Gowda was produced before the Special Court, and custody of the accused was granted to ED for 14 days.</p><p>It further stated that Gowda was found to have many movable and immovable assets during the search operations conducted in Shivamogga and Bengaluru earlier this week. </p>.ED arrests SP leader Vinay Shankar Tiwari, aide in Rs 750-crore bank 'fraud' case.<p>Besides, Rs 62.77 crore funds had been diverted from the Gandhi Bazar branch of DCC bank by the then manager Shobha on the instructions by Gowda. </p><p>The modus operandi was that fraudulent gold loan accounts had been opened in the name of individual account holders without their knowledge through forged documents. </p><p>As per the chargesheet filed by Lokayukta police, Gowda was involved in misappropriation of funds in DCC bank. Further investigation is in progress.</p><p>Gowda is the head of the Malnad Area Development Board and a Congress leader.</p>