Shivanand Neelannavar, owner of Shivam Associates, has been arrested in Belagavi for an alleged fraud amounting to ₹4,500 crore. Police have frozen four of his bank accounts, each containing hundreds of crores of rupees. Despite massive monthly transactions of over ₹75 crore distributed as interest to 35,000 investors, bank officials failed to alert the IT department or ED. Due to the interstate scale of the fraud, the investigation has been handed over to the CID under DIG Bhimashankar Guled. https://tv9kannada.com/karnataka/belagavi/multi-crore-fraud-case-bank-silent-despite-hundreds-of-crores-found-in-account-are-officials-linked-to-shivanand-1187222.html #creator program