The BSNL Engineers Cooperative Society has suffered a Rs 260.18-crore loss due to unauthorized loans and fake investment documents, according to a cooperative department report.
The perpetrators allegedly diverted depositors’ funds into personal accounts without proper records. Fixed deposits worth Rs 222.47 crore are missing, with irregularities involving fake loans, chit fund frauds, and other malpractices.
The Enforcement Directorate (ED) has launched a probe, requesting case details, accused information, and charges filed under the BUDS Act. The report, submitted to the Registrar of Cooperative Societies, outlines 13 fraudulent methods used.
