Punjab VB unearths Rs 4 crore scam in cooperative society, nabs three
Chandigarh, September 5
The Vigilance Bureau (VB) has unearthed a multi-crore scam in Kajla Multi-Purpose Cooperative Society Limited, Kajla village, Shaheed Bhagat Singh Nagar district, and registered a fraud case against seven persons. Three accused — Prem Singh, Bhupinder Singh and Harjit Singh — were arrested today.
During the investigation, it came to light that the employees and elected representatives of the society had embezzled funds worth Rs 4.24 crore in connivance with each other.
It was found that secretary Prem Singh, secretary (under suspension) Bhupinder Singh, former president Jaswinder Singh, vice-president Harvel Singh and former members Harjit Singh and Balkar Singh (all residents of Kajla village) and former member Ram Pal of Paddi Matwali village had committed the fraud.
There are about 1,220 account-holders/members in Kajla Multi-Purpose Cooperative Society. It has got two tractors, besides agricultural machinery for cultivation of land. Apart from this, the society also sells insecticides and pesticides to the members. Various members of this society had deposited money for FDRs worth crores of rupees in the society.
