PANAJI: The State government has ordered a probe into the alleged Rs 18 crore fraud by Mashel Mahila Co-operative credit society.
The government has appointed an inquiry officer to probe into the matter and recover all the money of the depositors from the Society by December 2024.
Several female depositors of the credit society on Thursday held a protest in Panaji alleging massive Rs 18 cr fraud. Nearly 509 depositors are at loss. They pointed out alleged mismanagement of funds by the society.
Speaking to reporters, the Chief Minister Pramod Sawant said that a complaint of fraud has already been filed by the depositors and inquiry has been ordered.
When asked, Minister Subhash Shirodkar said that an inquiry officer is appointed to probe the allegations and to recover the possible amount by December end.
He said that the Board of Directors of the credit society should be held accountable.
Minister Govind Gaude said that Multi-state banks have started venturing into Goa; people should not invest just by seeing their high interest rates.
“I have never given any permission for such banks; Govt should check their financial background,” said Gaude.
Female depositors of Mashel Mahila Co-operative Credit Society have alleged a massive fraud amounting to Rs 18 crore, implicating the society’s directors and staff in the financial malpractice.
Nearly 509 depositors are grappling with the deadlock of Rs 18 crore held up in Mashel Mahila Co-operative Credit Society Ltd.
The aggrieved depositors staged a protest at Azad Maidan in Panaji on Thursday, highlighting the financial plight they face due to the society’s alleged mismanagement.