Chandigarh, 22 July
The Punjab Vigilance Bureau (VB) has arrested five individuals, including former and current employees of cooperative societies in Hoshiarpur district, for allegedly obtaining a loan in the name of a deceased farmer.
The accused conspired to secure a loan of Rs. 1.92 lakh in the name of a deceased member, Gulzar Singh, of Dhugga Kalan village. The loan amount was subsequently diverted to the society’s account before being re-loaned for another Rs. 1.9 lakh. To avoid detection, the accused later repaid the entire loan with interest.
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The VB had previously arrested three individuals in connection with the case. The latest arrests come after a thorough investigation revealed the involvement of the five accused in the fraudulent scheme.
The accused are facing charges of fraud, forgery, and corruption.
The vigilance bureau’s action underscores its commitment to combating corruption and financial irregularities within cooperative societies in the state.
