Daijiworld Media Network – Udupi (MS)
Udupi, Apr 30: Police arrested director and president of Avishkar Jeevan multipurpose cooperative society of Mysuru in connection with the Rs 1.25 crore scam that is alleged to have taken place in their Udupi branch.
The president of the cooperative society Lokesh and director Dilip Suptekar are the accused who are arrested by the police.
In a complaint filed against 17 people by Anantha Nayak, resident of Brahmavar, who had invested money in the society, it is alleged that accused cheated Rs 1.25 crore collected in the form of shares, fixed deposits and recurring deposits from public.
The police interrogated the president and director of the society in Mysuru and arrested them. They were later produced before a court in Udupi.