Nashik: Embezzlement Scandal Rocks Sukmal Urban Co-operative Credit Institution

Nashik: Embezzlement Scandal Rocks Sukmal Urban Co-operative Credit Institution

This intricate web of financial deception has prompted a rigorous investigation by the Panchvati Police

Prashant NikaleUpdated: Tuesday, February 20, 2024, 06:23 PM IST
article-image
Nashik: Embezzlement Scandal Rocks Sukmal Urban Co-operative Credit Institution | Representational Image

Allegations of embezzlement and fraudulent practices have surfaced at the Sukmal Urban Co-operative Credit Institution in Nashik.

Mahadev Tikkas, an 81-year-old resident of Adgaon, has lodged a detailed complaint against several key figures within the institution, including the former president, board of directors, and manager.

According to Tikkas' complaint, the accused devised a scheme to entice unsuspecting investors by promising attractive returns on fixed deposits. Entrusted with lakhs of rupees, Tikkas and others were assured of profitable outcomes. However, investigations have revealed a disturbing pattern of misconduct, wherein the suspects allegedly diverted these funds for personal use.

Through purported manipulation of loan transactions and failure to honour fixed deposit agreements, the suspected individuals stand accused of embezzling a staggering amount exceeding ₹33 lakh.

This intricate web of financial deception has prompted a rigorous investigation by the Panchvati Police, who are diligently piecing together evidence to bring those responsible to justice.

RECENT STORIES

NCP Leader Ajit Pawar Faces Backlash Over 'Vote For Funds' Remark In Pune

NCP Leader Ajit Pawar Faces Backlash Over 'Vote For Funds' Remark In Pune

Chhatrapati Sambhajinagar: Engineer Son Brutally Murders Father By Stabbing With Screwdriver

Chhatrapati Sambhajinagar: Engineer Son Brutally Murders Father By Stabbing With Screwdriver

VIDEO: Hailstorm Lashes Kharadi In Pune, Showers In Most Areas

VIDEO: Hailstorm Lashes Kharadi In Pune, Showers In Most Areas

VIDEO: Massive Fire At Chemical Factory In Jalgaon MIDC Kills One

VIDEO: Massive Fire At Chemical Factory In Jalgaon MIDC Kills One

Pune: Residents Of Wagholi Challenge Lok Sabha Candidates For 'Open Conference' To Discuss Isssues...

Pune: Residents Of Wagholi Challenge Lok Sabha Candidates For 'Open Conference' To Discuss Isssues...