Jaipur: The special operations group (SOG) of Rajasthan police on Tuesday arrested two persons, including a woman, for their alleged involvement in the Rs 400-crore Navjeevan credit cooperative society scam. The agency in its statement identified the two arrested accused as Khuman Singh, 47, and Resham Kanwar,35, both residents of Barmer.
Singh has been accused of taking “interest-free advance of Rs 2.25 lakh while being a member of the society’s board of directors”. The agency said that Singh allegedly diverted funds worth several lakhs from the society.
Kanwar, who was partner and shareholder in an agro company, has been accused of taking a loan of Rs 39,00,000 from the society despite not being eligible for the loan. The SOG alleged that Kanwar in collusion with the main accused, Girdhar Singh, diverted funds from the society.
The SOG had registered the case in 2019 after it came to fore that Rs 400 crore from 1,93, 821 investors was illegally diverted by directors into different companies and entities of their relatives and friends.
The SOG in its FIR had booked the accused under IPC Sections 420 (cheating), 406 (criminal breach of trust), 409 (Criminal breach of trust by public, servant. or by banker, merchant or agent), 477 (Falsification of accounts), and 120B (criminal conspiracy).
The SOG has already arrested some of the accused who were involved in the racket. The society ran over 200 branches in different cities across Rajasthan.
The Navjeevan credit cooperative society was one of the most sensational scams along with the multi-crore Sanjivani Credit Cooperative Society scam, wherein the money of several investors was embezzled by credit directors.
Singh has been accused of taking “interest-free advance of Rs 2.25 lakh while being a member of the society’s board of directors”. The agency said that Singh allegedly diverted funds worth several lakhs from the society.
Kanwar, who was partner and shareholder in an agro company, has been accused of taking a loan of Rs 39,00,000 from the society despite not being eligible for the loan. The SOG alleged that Kanwar in collusion with the main accused, Girdhar Singh, diverted funds from the society.
The SOG had registered the case in 2019 after it came to fore that Rs 400 crore from 1,93, 821 investors was illegally diverted by directors into different companies and entities of their relatives and friends.
The SOG in its FIR had booked the accused under IPC Sections 420 (cheating), 406 (criminal breach of trust), 409 (Criminal breach of trust by public, servant. or by banker, merchant or agent), 477 (Falsification of accounts), and 120B (criminal conspiracy).
The SOG has already arrested some of the accused who were involved in the racket. The society ran over 200 branches in different cities across Rajasthan.
The Navjeevan credit cooperative society was one of the most sensational scams along with the multi-crore Sanjivani Credit Cooperative Society scam, wherein the money of several investors was embezzled by credit directors.
