Bengaluru police probing the Rs 70-crore Employees’ Provident Fund Organisation (EPFO) Staff Credit Co-operative Society scam have arrested CEO G. Gopinath and Lakshmi R, wife of former accountant B. L. Jagadish.
Gopinath allegedly misappropriated over Rs 15 crore since 2009 by diverting depositor funds to personal accounts and creating fake bank statements to hide the fraud. He reportedly transferred large sums to his wife and daughter to buy properties and vehicles.
Lakshmi allegedly received Rs 6.5 crore through multiple transfers between 2009 and 2024. Police seized gold, luxury cars, and property documents, and froze her bank accounts. The case will soon be handed over to the CID.
