Cooperative Society Scandal: Massive Fraud Uncovered in Muvattupuzha

The Vigilance and Anti-Corruption Bureau is investigating a Rs 6.33 crore fraud at Mulavoor Vanitha Cooperative Society in Muvattupuzha. Thirteen people, including key officials, are accused of misusing their positions to forge documents, falsely secure loans, and embezzle funds, causing significant financial losses.

The Vigilance and Anti-Corruption Bureau (VACB) has begun an inquiry into allegations of a multi-crore fraud at the Mulavoor Vanitha Cooperative Society in Muvattupuzha. A case has been filed against 13 individuals, including the society's president, secretary, and several board members.

According to the FIR, these officials are accused of conspiring to misuse their positions between April 2021 and March 2022. They allegedly falsified documents to inflate interest payments on deposits and created fictitious member accounts to secure loans, leading to a misappropriation of over Rs 6.33 crore.

The irregularities were highlighted in a report by the Assistant Registrar of Cooperative Societies, prompting VACB's swift action. As the investigation unfolds, further interrogation of the accused is anticipated to uncover the full extent of the fraud.

(With inputs from agencies.)