PO Small Savings investors' money worth Rs 1 crore lost, Postmaster used it for IPL betting

New Delhi/Bhopal: In a bizarre news, Small savings investors' money worth Rs 1 crore has been lost as the Postmaster of the post office used the money for Indian Premier League (IPL) cricket match betting.

Vishal Ahirwar, the postmaster in Madhya Pradesh's Bina sub post office located in Sagar district allegedly used Rs 1 crore to bet on IPL match, which he lost. The savings deposit were made by over two dozen families, media reports have said. The money was to be fixed deposited at the sub post office.

Ahirwar has also reportedly confessed to using the money for IPL betting after he was arrested by the Bina Government Railway Police (GRP) two days ago. He is is presently on police remand.