Nagpur, 30 May (HS): A

massive financial fraud of over Rs 4.54 crore has been uncovered at the “Utthan

Nagari Sahakari Patsanstha Maryadit”, located in Indora, Nagpur. The scam was

exposed during a five-year audit from April 2018 to March 2023 conducted by

Special Auditor (Class II) Narayan Gadhekar, who is currently posted in Nagpur.

According to the

complaint, 21 office bearers and directors, including manager Shashikant

Naranware, chairman Mahendra Raut, vice-chairman Sanjay Gajghate, and others,

collectively conspired to accept illegal deposits from members without proper

records and failed to return them. They also submitted falsified financial

statements to the authorities, misguiding depositors and the government.

The accused

are alleged to have misused public funds for personal gain by issuing illegal

commissions to agents and disbursing unauthorized payments to recovery

officers. The total embezzlement reported stands at Rs 4,54,68,237.

Jaripatka Police

have registered a case under IPC Sections 406, 420, 409, 465, 467, 471, 477(A),

and 120(B) based on the complaint filed by Gadhekar.

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Hindusthan Samachar / Ajay Vasant Mardikar