Thiruvananthapuram: Fort police probing the multi-crore scandal associated with the Thiruvithamcore Cooperative Society sent a request on Saturday to the cooperative department seeking the preliminary inquiry report over the fraud. The department conducted an inquiry soon after the fraud came to light and an irregularity worth Rs 10 crore was noticed. The department also found that the society had an investment of Rs 41.
73 crore and Rs 32 crore was given as loans. Irregularities were spotted in the procedures for granting loans as well. Loans were granted without even having a valuation report on the guarantee of property measuring less than three cents.
Non-payment of loans was pointed out as the key reason for the collapse of the society. The biggest defaulters include prominent personalities who took loans up to Rs 50 lakh. The probe team has requested the preliminary report to have a clear idea of the gravity of the fraud and how it took place.
“As of now, there are 11 accused, including the president of the society M S Kumar, vice-president G Manickom, secretary Indu and nine board members. Kumar was the state spokesperson of BJP and Manickom is a prominent BJP member. The other members also have BJP links, and all the accused are absconding now.
We are gathering maximum evidence, and the cases are being registered on the 85 complaints. We are yet to find how the irregularity took place and to what level. The report of the department will help us in the probe ahead,” said police.
Most of the depositors are retired govt employees who deposited their gratuity and PF at the society. The administrative panel 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. We also published the following articles recently Police seek report from cooperative department on scam Fort police investigated the Thiruvithamcore Cooperative Society for a fraud involving Rs 10 crore. They found loan procedures lacking proper evaluation and prominent personalities among the defaulters.
Eleven accused, including society leaders with BJP ties, were absconding. Retired government employees who deposited gratuities and provident funds raised concerns after interest payments stopped in 2023. Mumbai Police arrest third accused in multi-crore bank fraud Mumbai police arrested Amish Ashwin Shah, the main beneficiary in a Rs 1.
50 crore fraud involving a trust employee and PNB manager. Shah, a habitual offender, was remanded to police custody. The fraud came to light during an audit of the trust's fixed deposits, which had been illegally transferred and misappropriated by trust employee Sohan Singh.
Woman harassed over loan she never took A 27-year-old beautician lodged a complaint with Powai Police after being harassed by loan repayment texts and receiving morphed images. Despite never applying for a loan, she found that a loan was taken in her name. The harassment escalated when lewd photos with her face were sent to her employer.
Police are investigating the matter..
