PANAJI
Chief Minister Pramod Sawant on Saturday directed the Registrar of Cooperative Societies Arvind Khutkar to expedite departmental procedures to arrest officials of the Salcete-based Visionaries Cooperative Credit Society, who have allegedly duped investors to the tune of crores of rupees.
Assuring victims of the scam in Panaji, who were protesting at Patto, Sawant also said that neither were the directors of the dubious society his relatives nor were they his friends and added that no one who has duped money from investors would be allowed to go scot-free.
"The fraud has been done by directors. I do not have relatives among the directors or well-wishers. I have told them to arrest them as per the procedure. They are following the procedure. One the procedure is complete, not a single person will be allowed to go scot-free," the Chief Minister told the protestors.
Shortly after, Sawant who was speaking at a cooperatives award function in Panaji, also directed Khutkar to make the necessary changes to complex laws, which govern such societies and nail the accused.
"My clear opinion is that those who have looted their money (directors of the Society) should be arrested. Money should be recovered from them all. Their properties should be attached. If an administrator appointed by them, does 'fixing', then such thieves will go scot-free. Arvind (Khutkar) make the due changes to rules and put them all inside," the Chief Minister said, instructing his department head.
More than a thousand depositors who had invested money to the tune of more than Rs 30 crore have claimed that they have been allegedly duped of their savings by the directors of the Society. A First Information Report has also been filed in connection with the alleged fraud.
Sawant also said that it was not the government that had defrauded the investors, but added that complex laws which govern the sector enabled fraudsters to run away with the money.
"As I was entering, I saw people standing with black flags related to Visionary Cooperative Society as if the government had blocked or stolen their money. Cooperative sector laws were very complex because of which there was no way to catch scamsters. The trend was to loot people through the cooperative sector and then scoot," Sawant said.
