The Economic Offences Wing of Pune Police has arrested the 18th accused in the alleged scam of nearly Rs 1,200 crore linked to the Bhaichand Hirachand Raisoni (BHR) State Cooperative Credit Society. After getting a tip-off from informers that Jhanvar was in Nashik, Pune Police teams laid a trap and arrested him. In 2015, based on a complaint of cheating lodged at Kothrud police station by a senior citizen, Mukund Badve, and other depositors, police had arrested 12 people, including the chairperson and directors of BHR State Cooperative Credit Society. The credit society was accused of attracting depositors by offering 13 per cent interest on fixed deposits. Directors of BHR State Cooperative Credit Society, who were arrested in the past, are currently lodged in jail.

Source: Indian Express August 10, 2021 16:06 UTC