SOG Officer starts investigating Bhavishya Scam

A Special Operation Group (SOG) officer joined the investigation team today in Udaipur who is looking into the multi crore rupees scam by Bhavishya Credit Co-Operative Society.

 
SOG Officer starts investigating Bhavishya Scam

A Special Operation Group (SOG) officer joined the investigation team today in Udaipur who is looking into the multi crore rupees scam by Bhavishya Credit Co-Operative Society.

Kailash Singh Sandhu, officer of Additional S.P Range (S.O.G) met his subordinates and inspected the seized office of society.

A special team of auditors is also formed under the directions of Sahkari Vibhag of Udaipur. Informing more about the team, Sandhu said, “The team consists of three auditors and one in charge. This team will check all account books of the co-operative society. The inspection has already started.”

“Besides the ongoing checking of finance and accounts of the society, our priority now is to arrest the two absconding accused who are believed to be the mastermind behind this scam,” added Sandhu.

When asked if there are any chances that the key accused Damodar Nagda and his associate Sanjay Shukla fled abroad , Kailash Sandhu said that they believe both of them are hiding somewhere within the country and will be arrested soon.

Since the society came under the charges of fraud, both investors and employees of the society faced dilemma. Around 15000 people from various parts of the country invested their money in Bhavishya’s several schemes.

Bhavishya Credit Co-Operative Society limited had introduced Petro Cards, Bhavishya Surakshit Shiksha Yojna, Fixed Deposit, M.I.S, R.D, D.D.S etc.

The society was registered in April 2011 and in Dec 2011. The society was transferred into multi-state and registered under Central Registrar Society, Ministry of Agriculture, Krishi Bhawan, New Delhi.

Around 178 branches were opened in Delhi, Gujarat, Bihar, Maharashtra U.P etc. whereas the head office was located at Udaipur.

Out of four main accused, two have been already arrested by the police and sent to remand.

From around the web