Deputy Chairman of the Rajya Sabha K. Rahman Khan has denied allegations of his involvement in the Rs.105-crore fraud in the Amanath Cooperative Bank Ltd. here, when he headed the bank’s board of directors.

Reacting to Janata Party president Subramanian Swamy’s demand for his resignation, Mr. Khan said the report submitted by the Joint Registrar of Cooperative Societies here in June 2007 against the board of directors was “politically motivated.”

“The inquiry report is part of a conspiracy hatched by my political adversaries to malign me,” Mr. Khan told The Hindu. When the inquiry report was challenged by the Board of Directors, a fresh inquiry was conducted by the Registrar of Cooperative Societies and the Corps of Detective, which had exonerated him, he said.

“A detailed inquiry by the CoD has now revealed that the former General Manager of the bank had created fictitious accounts to siphon off the money. There is no inquiry report, which has individually held me responsible for the fraud. We have taken all necessary steps to take possession of the assets bought through the siphoned money,” he said.

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