Crime branch investigates Vellanad society fraud case

A state crime branch team is investigating financial irregularities involving the Vellanad Rajiv Gandhi Cooperative Society. The irregularities amount to crores of rupees. On Saturday, they asked for asset details of those accused from the inspector general of the registration department. They also reached out to nationalized banks for information on accounts and transactions linked to the accused. There has been an increase in the number of cases related to this fraud. The Aruvikkara police have registered a total of 74 cases. Of these, 32 cases have already been handed over to the crime branch, and the remaining 42 are expected to follow soon. The society's secretary, Rakhi, was arrested and questioned for two days last week. Earlier, the society's president, Mohanan, who was also the main accused, committed suicide a few months ago. Other board members are facing charges under various sections for cheating and breach of trust. Investigators found that the accused had taken large loans in fake names for personal expenses, like buying property. This is against the rules of cooperative societies, which prohibit panel members from borrowing from the society. The fraud was exposed when depositors noticed they were not receiving interest and could not withdraw their funds. The society is currently in a serious financial crisis.