Chhatrapati Sambhajinagar: Vighnahar Multi-State Cooperative Credit Society Ltd allegedly duped an investor of Rs 1 crore after promising lucrative returns of around 10–12% on his investment. The investor deposited
Rs 1,00,05,500 in his savings account and later put Rs 93,05,500 into the society’s fixed-deposit scheme. When he needed funds and sought to withdraw the fixed deposit, the society allegedly began ignoring him. Realising he had been cheated, he filed a complaint with Jawaharnagar Police Station.
The accused named in the case are directors Kyatamwar, Virsinghji and RG Baheti, all residents of Basmath, Hingoli, along with the late chairman and chief advisor, Mathuradas Deshmukh (Beed Bypass).
According to complainant Shaikh Taufiq Mohd Shafi (Times Colony, Katkat Gate), he had met the chairman and chief advisor Deshmukh for some work. Deshmukh told him that the credit society gives lucrative returns of around 10–12% on investment and encouraged him to invest. Shafi then opened a savings account in the society and deposited Rs 1,00,05,500 in five stages. Of this, he invested Rs93,05,500 in the fixed-deposit scheme on Apr 1, 2025.
The scheme was due to mature on July 1. However, when he needed money and tried to withdraw the deposit, the society allegedly neglected him. The bank manager told him the chairman had cancer and was hospitalised. Despite repeated visits, he was not given his money.
Deshmukh died on June 26, 2025, and the society was closed within a day. The complainant then approached the Economic Offence Cell. After a preliminary investigation, a case was registered, and Senior PI of the Economic Offence Cell, Sambhaji Pawar, has been conducting further inquiry.
