Over the last two months, the Economic Offences Wing has arrested 18 people, including prime suspect Jitendra Kandare, following raids at different locations in Maharashtra and Madhya Pradesh, for their alleged involvement in the scam.
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. The accused, Sunil Devakinanandan Jhanvar (51), is among the prime suspects in the case, in which over 30 people have been named as suspects.
Police teams were trying to nab Jhanvar for a while and had unsuccessfully visited Jalgaon for the same several times. After getting a tip-off from informers that Jhanvar was in Nashik, Pune Police teams laid a trap and arrested him.
Over the last two months, the Economic Offences Wing has arrested 18 people, including prime suspect Jitendra Kandare, following raids at different locations in Maharashtra and Madhya Pradesh, for their alleged involvement in the scam.
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. Like Badve, a large number of people deposited lakhs and did not get the assured returns.
Later, 81 cases were registered at different police stations across the state in this scam, in which investors were allegedly duped to the tune of Rs 1,200 crore by misappropriation of deposits. Directors of BHR State Cooperative Credit Society, who were arrested in the past, are currently lodged in jail.
Following a fresh case of cheating lodged on a complaint by a 65-year-old retired teacher, Ranjana Ghorpade, at Deccan police station on November 25, 2020, Pune Police have arrested more people in connection with the case.
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