Twelve including the chairman and directors of BHR State Cooperative Credit Society were arrested for allegedly duping depositors to the tune of lakhs of rupees. They were remanded in two-day police custody.
Mukund Kashinath Badve (63) of Rambag Colony, Kothrud and other depositors had lodged a complaint against Bhaichand Hirachand Raisoni (BHR) State Cooperative Credit Society at Kothrud police station in January 2015.
Police booked the 12 suspects under sections 420, 409, 34 of the Indian Penal Code and sections of the Maharashtra Protection of Interest of Depositors Act, 1999. Most of the depositors had retired from service.
The police had produced them in a magistrate court and sought their custody for 14 days for investigations. Police said the BHR State Cooperative Credit Society was formed in Jalgaon. It attracted people by offering a lucrative 13 per cent interest on fixed deposits. Police said that complainant Badve and others deposited money to the tune of lakhs of rupees in the BHR State Cooperative Credit Society’s branches in Kothrud area, for a fixed period expecting good returns. However, after the maturation of the scheme, BHR State Cooperative Credit Society did not return their money, causing an alleged fraud of about Rs 40 lakh. Police suspect that the money was used for personal gains.
The arrested suspects Pramod Bhaichand Raisoni (54), Dilip Kantilal Chordiya (51), Motilal Omkar Jiri (46), Surajmal Babhutmal Jain (50), Dada Ramchandra Patil (63), Bhagwat Sampat Mali (63), Rajaram Kashinath Koli (47), Bhagwan Hiraman Wagh (60), Hitendra Yeshwant Mahajan (52), Indrakumar Atmaram Lalwani (40), Shaikh Ramzan Shaikh Abdul Nabi Manyar (55), Sukhlal Shahdu Mali (45), all residents of Jalgaon district of Maharashtra. They were arrested by the Jalgaon police and Pune city police took them into custody after completing legal formalities.
Police told the court they want to probe how the suspects allegedly misused their money, whether by giving loans to family members or known persons or by purchasing properties. Police said a similar offence has been registered against the cooperative credit society in the past.