Maharashtra: Chairman and secretary of housing society in Thane booked for Rs 95 lakh fraud

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The Thane Police have registered a case of cheating against the chairman and the secretary of a housing society in Thane city of Maharashtra for alleged misappropriation and swindling of funds worth more than Rs 95 lakh, police said on Monday, reported the PTI.

The police said that the case was registered after the audit of the accounts of the residential society, located on Godbunder Road, was conducted by the government auditor, according to the PTI.

"The audit found several irregularities for the period between 2019 and 2022. In some instances, the society fund was spent without the approval of the general body. The accused duo had allegedly made the online payment without permission," a police official said, quoting the complaint, as per the PTI.

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A case was registered under sections 406 (Criminal breach of trust), 409 (Criminal breach of trust by public servant or by banker, merchant or agent.) and 420 (Cheating and dishonestly inducing delivery of property) of the Indian Penal Code against the society chairman and the secretary. No arrest has been made so far, an official said.

Meanwhile, in an another case in Maharashtra's Nagpur, The Economic Offences Wing of Nagpur police last week arrested the president of a credit society for allegedly duping investors to the tune of Rs 1.19 crore, reported the PTI.

The suspect was arrested and other office-bearers have been named as co-accused in the First Information Report, an official said last Saturday, according to the PTI.

The FIR was registered on the basis of a complaint filed by a clerk at the society's office, the police official told the PTI.

The clerk told the police that she was allegedly promised commission if she acted as an agent and collected deposits.

As many as 39 persons invested more than Rs 1.19 crore with the society between July 2015 and January 2019 through agents. The clerk herself had invested some money in the society's schemes, she told police, as per the PTI.

But the accused eventually closed the office, thus cheating the investors, the complaint said. They paid no commission to the agents either.

A case under Indian Penal Code sections 406 (criminal breach of trust) and 420 (cheating) besides relevant sections of the Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act was registered at Yashodhara Nagar police station and further investigation was underway, the official said.

(with PTI inputs)