MD of a credit cooperative company in Bengaluru was taken into custody for allegedly defrauding investors of lakhs of rupees, PTI reports quoting police.
The accused was running the Kanva Souharda Cooperative Credit Limited.
An aggrieved investor had lodged a complaint against the MD.
Sources say the credit co-op has swindled a large number of investors.
Meanwhile, the co-op credit says it will return the money to the investors.
