The Commercial Crime Investigation Wing (CCIW) Police have arrested three employees of a cooperative society on Friday and Saturday on charges of swindling Rs. 1.7 crore from the society with five others. The police said that the fraud took place between the year 2002 and 2008.
Prime accused
CCIW police said that the eight accused, including the secretary of the society, who is said to be the prime accused in the scam, cheated the society that the members of the society paid as dues and not depositing it in the society’s account.
While the scam was said to have taken place seven years ago, it came to light when Deputy Registrar (Housing), Coimbatore Zone, M. Sekar lodged a complaint with CCIW in Chennai a couple of days ago.
It was forwarded to the Deputy Superintendent of Police, Coimbatore, T. Gnanasekaran, on whose direction the case was registered here, on Friday.
The accused were booked under sections 468 (forgery for purpose of cheating), 471 (for using as genuine a forged document or an electronic record), 477A (falsification of accounts), 420 (for cheating and dishonestly inducing delivery of property), 120B (criminal conspiracy) and 109 (abetment if the act is committed in consequence and where no express provision is made for its punishment) of the Indian Penal Code.
The arrested were K. Raghupathy (45) of Cheran Maa Nagar and K. Shanthi (44) of Press Colony who were writers in the cooperative society and P. Arumugam (62) of Kovaipudur who did the auditing for the society and allegedly helped in covering the scam.
Look out for five
Police were on the look out for the five others including the secretary of the society.
