THIRUVANANTHAPURAM : The death of A R Gopinathan, the prime accused in the BSNL Engineers Cooperative Society case, has come as a major setback to victims of the cooperative scam. The 74-year-old, who was under treatment, passed away at his residence in Balaramapuram on Saturday. The unfinished inquiry had already raised concerns among victims, who now find themselves in a state of uncertainty with large tracts of land in Thiruvananthapuram and many properties in Kollam yet to be seized.
The nearly Rs 260-crore scam, affecting more than 1,500 depositors, most if them BSNL pensioners, emerged in 2022. According to reports, society officials were siphoning money from fixed deposits, by recording them as loans taken by depositors. After the scam broke out, the police registered over a 1,000 cases for fraudulent activity.
Gopinathan was president of the society. Initially, the accused claimed the society held deposits worth Rs 21 crore. However, investigations revealed over 1,500 depositors and Rs 260 crore in deposits.
Going by reports, the accused amassed multiple assets, including houses, luxury cars, shops, shopping malls and plots. Over 95 properties, purchased by the prime accused and his associates in Kollam and Thiruvananthapuram, were identified. Though the fraudulent activities were going on for more than two decades, it was only detected towards the end of 2022.
According to the victims, the accused targeted long-term deposits assuming these would not be withdrawn quic.