Thiruvananthapuram: In yet another deposit fraud in the cooperative sector , Fort police booked the administrative panel members of the BJP-ruled Thiruvithamcore Cooperative Society for cheating people of crores of rupees by offering high interest on their deposits. Fort police have received a total 85 complaints, and eight cases have been registered so far. As per preliminary findings, fraud worth Rs 10 crore was discovered.
A WhatsApp group of as many as 95 people, who were cheated, has also been formed to coordinate legal measures against the administrative panel members, who are absconding. The cooperative department also has begun a departmental inquiry into the incident. Most of the depositors are retired govt employees who deposited their gratuity and provident fund at the society.
The administrative panel of the society had offered 14%to 18% interest per lakh rupees to the depositors. However, many of them stopped receiving interest in 2023, raising suspicions of misappropriation among the depositors. When a few of them tried to withdraw their deposits, they were denied money.
As per preliminary findings, the accused invested the depositors’ money in real estate and other businesses. However, these investments incurred huge losses, affecting the functioning of the society. There are people who deposited up to Rs 50 lakh.
The society started functioning in 2014 and has branches at Manacaud, Sasthamangalam, and Kannanmoola. The victims include 52-year-old Panamood-Lane resident Maya, who lost Rs 5.65 lakh; T Sudhadevi, 72, of Chirakulam, who lost Rs 8.
50 lakh; and Divya V S, 45, of Chirakulam, who lost Rs 4.70 lakh, among others. “The cases were registered against the secretary, president, and members of the administrative panel.
In the preliminary inquiry, their role in the irregularity is evident, and we have been collecting maximum evidence. They are all absconding, and the search has been intensified for them,” said the police. We also published the following articles recently Panel members booked for Thiruvithamcore co-op scam Fort police in Thiruvananthapuram booked the BJP-governed Thiruvithamcore Cooperative Society's administrative panel for a deposit fraud involving crores of rupees.
Over 85 complaints were received, and fraud worth Rs 10 crore was uncovered. Retired government employees were major victims, some losing up to Rs 50 lakh. The accused are reportedly absconding after failed real estate investments.
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