BSNL Engineers Coop Society incurred ₹260-cr loss: Report
The New Indian Express Thiruvananthapuram|December 23, 2024
THE BSNL Engineers Cooperative Society has incurred a loss of ₹260.18 crore due to unauthorised loans and fake investment documents, a cooperation department report on the alleged scam in the society has revealed.
EXPRESS NEWS SERVICE @T'Puram

Since the society lacked proper records, the report was prepared by the investigating officer with information gleaned from the affidavits submitted by depositors. The report reveals that the perpetrators transferred depositors' funds directly into their own accounts without recording them in the society's register. Though fixed deposits amount to ₹222.47 crore, this amount is missing from the society's accounts as the accused misappropriated the funds.

As many as 13 methods were used to cause these losses amounting to crores. The report highlights irregularities carried out by employees using fake loans, chit fund frauds, and other malpractices.

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