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Police arrest managers of fake Mother Teresa bank

Police have charged a Christian family in southern India with fraud after a cooperative bank that it had launched in Mother Teresa's name failed to return money to its depositors.

The family started the Mother Teresa Cooperative Urban Bank in 1998 in Hyderabad, some 1400 kilometers south of New Delhi.

Police raided the bank's premises early last month following a complaint from M. Narasimha, a farmer from outside Hyderabad.

Narasimha said the bank had not paid him $A12,9473 in time deposits that matured last year. Police seized all bank records and registered cases of misappropriation and cheating against its managers, Henry Charles and his father T. Christopher.

UCA News

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