Chhatrapati Sambhajinagar: Lok Adarsh Chairman, 2 Others Arrested After 4 Months On The Run

Chhatrapati Sambhajinagar: The City Police have arrested the chairman, vice-chairman and secretary of the Lok Adarsh Urban Cooperative Society in Shahgunj, who had been absconding for nearly four months after allegedly embezzling ₹5.16 crore from the society.

The arrested accused have been identified as chairman Anis Syed Pathan, vice-chairman Syed Ejaj Abdul Gaffar, and secretary Shaikh Vikhar Ahmed. They were produced before a court on Tuesday, which remanded them to police custody till July 28, Economic Offences Branch (EOB) Police Inspector Ashok Bhandare said.

According to the police, an audit of the cooperative society revealed an alleged embezzlement of ₹5.16 crore between April 1, 2022, and March 31, 2025. The society has nearly 700 depositors. After the scam surfaced, the accused went into hiding and unsuccessfully sought anticipatory bail from various courts.

Police said Pathan vacated his luxurious house in Shahgunj and was staying in a rented accommodation in the Mukundwadi area, while Gaffar and Ahmed were hiding in different localities. Acting on a tip-off, the police traced and arrested all three.

Investigators alleged that the accused carried out unauthorised financial transactions through a company named Lok Adarsh Nidhi without the approval of the Cooperative Department, resulting in an alleged misappropriation of ₹1.28 crore. They also allegedly opened unauthorised branches at Railway Station and Chitegaon, causing irregularities worth ₹18.75 lakh.

The trio is further accused of obtaining loans using forged documents, causing a loss of ₹60.43 lakh to the society. The audit also found that the chairman allegedly drew ₹9.24 lakh as salary, the vice-chairman ₹70,000, and the secretary ₹2 lakh. In addition, Ahmed allegedly availed a ₹4.85 lakh loan in the name of Sana Boutique.