Ex-CEO of co-op bank in Bengaluru found dead; police suspect suicide

Recently, the Anti Corruption Bureau had raided the office and residence of Vasudeva Maiya, the former CEO of the Guru Raghavendra Sahakara Bank, and a few other executives of the bank

The former chief executive officer of a city-based cooperative bank was found dead in his car in Bengaluru, in a suspected case of suicide, police said on Tuesday.

Vasudeva Maiya, the former CEO of the Guru Raghavendra Sahakara Bank was found dead inside the vehicle, which was parked by the roadside near Subramanyapura on Monday night.

Recently, the Anti Corruption Bureau had raided the office and residence of Maiya and a few other executives of the bank suspecting their role in an alleged financial fraud in the financial institution.

Though the police suspected that it could be a case of suicide by consuming poison, they said the actual cause of death would be known after the detailed investigation.

The cooperative bank's 'irregularities' came to light in January this year when the Reserve Bank of India stopped all the businesses of the bank and imposed restrictions on withdrawal.

Following the restrictions, scores of investors thronged the bank, which was a reminder of the plight of the depositors in the scam tainted PMC Bank in Mumbai.

Subsequently, the ACB expedited its investigation into the alleged irregularities.