<span style="color: #222222;">Enforcement Directorate has arrested K Ramakrishna the President of Sri Guru Raghavendra Sahakara Bank in connection with mis-appropriation of public deposits to the tune of more than one thousand crore rupees. During the investigation under the Prevention of Money Laundering Act, it is revealed that officers and employees of the bank siphoned off the money deposited by the public with the bank. The Bank promised to give higher interest rates to the depositors which were not in line with the prevailing market rate. ED said, the money deposited by the depositors was siphoned off to various persons including employees of the bank without obtaining proper security of the loans. Earlier, the Enforcement Directorate had attached movable and immovable properties belonging to the accused persons valuing to 45 crore rupees.</span><br />