Credit society manager embezzles Rs 79 lakh

Lokmat News Network

Chhatrapati Sambhajinagar

The manager of the Jai Gangamai Urban Cooperative Credit Society and two others embezzled a sum of Rs 1,14,33,425 in the society. The economic offense cell arrested the manager Ganpat Namdev Gaikwad on Wednesday.

During the investigation, it has been revealed that Gaikwad is just class 4th passed and his share in the embezzled amount is 79.10 lakh. He joined as a clerk and reached the post of manager and is involved in several misappropriations of money. He was remanded in the police custody till July 2.

Based on the report submitted by the auditor of the cooperative commissioner and registrar cooperative department Abasaheb Deshmukh, a case was registered in this connection in March. In the report, it was mentioned that the accused on false documents and false accounts embezzled the money without depositing it with the society. Similarly, loans worth lakhs of rupees were taken in the name of members. The board of directors was unaware of this embezzlement.

Under the guidance of CP Manoj Lohiya, ACP Dhanajay Patil and PI Avinash Aghav, API Ajabsingh Jarwal conducted a thorough investigation.

It was also found that the other accused Maroti Mirge made an embezzlement of Rs 10.60 lakh and Gajanan Thole Rs 15.33 lakh. Although Gaikwad is just a class 4th pass, the board of directors appointed him as a cleft in 2012 and manager in 2017. He was at large since the case was registered and was arrested on Wednesday. The court has granted temporary relief from the arrest.