DVAC registers case against chairman of Tamil Nadu State Apex Co-Operative Bank and son, conducts searches

CHENNAI: The Directorate of Vigilance and Anti-Corruption (DVAC) on Thursday filed a corruption case against R

Elangovan

, chairman of

Tamil Nadu State Apex Co-Operative Bank

LTD and president of

Salem District Central Co-Operative Bank

.

Elangovan’s son E Praveen Kumar, vice-chairman of

Swamy Ayappan Educational Trust

, is named as the second accused in the FIR.

The DVAC on Friday started searches on 26 premises in Salem, Namakkal, Chennai, Karur and Trichy districts in connection with the case.
.
Elangovan and his dependents are accused of amassing Rs 3.78crore worth disproportionate assets between April 2014 and April 2020.

However, the DVAC said the duo might have acquired even more assets which might have been parked in the name of their benamis in Tamil Nadu and outside.

This ill-gotten money had been invested in colleges and institutions run by Swamy Ayappan Educational Trust at Musiri in Trichy district, the DVAC said.


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