A massive financial scam worth around Rs 70 crore has surfaced in the Employees’ Provident Fund Organisation (EPFO) Staff Credit Co-operative Society Limited, reports the New Indian Express.
The society’s president, CJ Muralidar, lodged a complaint accusing CEO G Gopinath and several former officials of siphoning off funds collected from nearly 300 employees as fixed deposits.
According to the FIR, only Rs 3.5 crore had been disbursed as loans despite deposits totalling Rs 70 crore, indicating large-scale misappropriation. The accused allegedly forged documents and manipulated records to hide the embezzlement.
Over 50 staff members gathered at the Cubbon Park police station demanding arrests. Police have filed a case under cheating, forgery, and breach of trust provisions and are probing the matter.
