Bhopal: EOW Books Members Of VACL Jan Sahyog Credit Cooperative Society In Investor Fraud Involving Over 3,000 Depositors
· Free Press Journal
Bhopal (Madhya Pradesh): The Economic Offences Wing (EOW) has registered a case against the president, directors and members of VACL Jan Sahyog Credit Cooperative Society for allegedly cheating around 3,000 investors by promising to double their money, officials said.
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Officials said the society started operating in 2013-14. The suspects allegedly lured investors by offering high interest rates on deposits and assured them that their money would double within five-and-a-half years.
However, when investors approached the society after the maturity period, they allegedly found that the office had been shifted and the mobile phones of the directors and members were switched off.
The investors later approached the police, following which statements of around 40 people, including employees, workers and investors linked to the society, were recorded.
During the investigation, police found that the directors and members had allegedly not paid salaries to employees and were avoiding meeting them.
Police also found that society president Rakesh Sharma had allegedly purchased properties worth Rs 25 lakh in Diwanganj and another property worth Rs 1 crore in 2014, besides acquiring a property in Vidisha district.
The EOW registered the case against Rakesh Kumar Sharma, the then president of the society, vice presidents BS Chauhan and Abhishke Sharma, directors Indresh Singh, Dheeraj Pawar, Jitendra Singh, Rakesh Malviya, Vikas Gajibhe, Chiraunji Lal Meena, Shweta Sharma and Sadhya Singh, along with associates Abhishke Khare, Vijay Ingle and Yogita Sharma, among others.
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