Kochi : CBI has begun an investigation into an alleged Rs 65-crore investment scam involving Viswadeepthi Multi State Agri Co-operative Society Ltd.
The anti-corruption unit of the central agency in Kochi registered an FIR on Sept 29 and took over the case. The case names 12 accused, including the society and 11 of its board members and promoters. As per the FIR, the society, headquartered in Coimbatore, Tamil Nadu , and operating branches in Keralam, induced people to deposit their savings by offering interest rates ranging from 12% to 14.5%. The alleged deposits were collected between April 2023 and Nov 2024, officers said.
You Can Also Check: Gold Rate in Kochi | Silver Rate in Kochi | Bank Holidays in Kochi | Public Holidays in Kochi Stay updated with the latest Kochi news. The investigation was initiated following a direction from Kerala High Court. The FIR was registered under various provisions of the Banning of Unregulated Deposit Schemes (BUDS) Act and BNS for offences, including alleged criminal conspiracy and cheating. However, the accused allegedly failed to repay the deposits, including the principal amounts, causing financial losses to depositors. Download the TOI App.