Auditor complains against HFC multipurpose co-op society

An internal auditor working in HFC multipurpose co-operative society spread across both Andhra Pradesh and Tamil Nadu has mailed a detailed report as to how the co-op society in question is fleecing innocent people. We are reproducing his complaint verbatim—Editor


I have enclosed complaint against HFC multipurpose co-operative society -in Andhra & Tamilnadu. I am Senthil Kumar, working as internal auditing manager in HFC multipurpose co-operative society – Tamil Nadu.

This society for the last 8 months has not paid salary to staff members but at the same time they have collected huge funds above 5 crore from customers in many ways like FD, RD , Membership , SB through 75 branches across Tamilnadu.

Not only that, they have asked every staff member to deposit amount ranging from minimum 1 lakh to maximum 5 lakh rupees to keep their jobs and as their refund deposits.

Now the above society is slowly winding up its branches even as no amount is being refunded to any of the relieved staff members, as well as to the customers.

As there are several people like us who are victims of this co-op society, some of the staff members have lodged a complaint with local police stations but to no avail.

Please save us.

We have strong evidence against this co-op society. Kindly take immediate action. For your satisfaction, I am attaching below a few contact numbers of affected staff members and customers.

The details of the society are also doing the rounds on you tube which you can see by clicking on

The mail also talks of Mr Suresh – Vice Chairman of the co-op as the person responsible for the scam and lists his mobile phone number which we are shying from making public.

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