Misappropriation of Rs 1.5 crore in gold mortgage: Irregularities of five crore rupees; Cooperative Bank scam repeats in Kerala

IRIKKUR (KANNUR): A preliminary investigation has revealed that there was an embezzlement of Rs 1.5 crore in pawned gold and irregularities of over five crore rupees in deposits at the UDF-led Irikkur Service Cooperative Bank. The Cooperative District Joint Registrar has ordered a detailed investigation.

A detailed investigation has been ordered after a team led by the Srikantapuram Unit Inspector found major irregularities in the financial years 2020-21 and 2021-22 during the audit. Secretary Chedichery Alum Mukku native PV Manish has been suspended.

The Cooperative Joint Registrar has ordered a detailed inspection and a report by June 15. There have also been complaints that the bank authorities are sending back depositors who come to withdraw money.

The bank, which has 10,937 members, has a branch office in Kuttavu in addition to its head office in Irikkur. It is governed by an 11-member board of directors with P Muniruddin as president and UP Abdurahman as vice president.

The irregularities in the bank came to light after the depositors did not receive the money. The bank paid the money in four instalments to those who had deposited one lakh rupees. Suspicion arose when those who had deposited large amounts were asked to leave asking for more time. Leela filed a complaint with the Irikkur police alleging that the deposited money was not being paid.

The administrative committee has written a letter to the district joint registrar requesting him to check the figures and bring out the truth. For the past few days, depositors from many places like Irikkur, Mattanur, Kalliad, Blathoor, Oorathur, etc. had returned without receiving their money and gold.