Punjab Housefed has been defrauded of Rs 1.5 crore in Sehna Rural Cooperative House Building Society of Barnala district by its two workers. The fraud lasted from 2002 to 2014, reports Times of India.
According to Housefed chairman Gurmeet Singh Mann, the embezzlement came to light when Baldev died earlier this year and a new inspector was appointed in his place.
When the new inspector started issuing notices to society members to return the long-pending loan amounts, more than 200 society members showed receipts and “no dues certificates” issued to them for making the payment.
Total 273 members had obtained loans in from 2002 to 2014 and 150 of them were shown as defaulters. District assistant registrar of cooperative societies filed a complaint to register an FIR against both employees. Gurpiar has been placed under suspension and he is on the run.