City Reports

Adarsh Credit Cooperative Society Scam: Retired IAS officer’s son arrested

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May 27, 2019, 11:24 am


Representative Image.

Jaipur: Rajasthan special operations group (SOG) on Sunday arrested one more former office bearer of Adarsh Credit Cooperative Society in connection with the misuse of funds invested by over 20 lakh people across the country. The accused, Rajeshwar Singh, is the son of a retired IAS officer. Rajeshwar is a resident of Hanumanagar in Vaishali Nagar of Jaipur. The SOG has arrested 12 former and current office bearers of Adarsh Cooperative Society.

The SOG on Sunday took one of the key accused, Virendra Modi, the brother of society founder Mukesh Modi to a hospital after he complained of chest pain.

“Virendra has been admitted to the cardiac ICU of SMS Hospital for treatment,” said an official. Mukesh had been arrested last year. Virendra has many police cases registered in Sirohi, causing the district police to open a historysheet. Since the arrest of Mukesh, Virendra was looking after the company’s affairs, police said.

It has come up during preliminary investigation that society owns properties in many areas in Jaipur including Vaishali Nagar. The SOG is collecting documents providing society’s ownership.

The company has 806 branches in 28 states and 4 union territories across the country including Rajasthan. More than 20 lakh people invested Rs 8000 crore. The SOG has arrested 11 former and current officials of the company including chairmen and MDs.

The SOG received the complaints that the funds invested by the people were misused. Mukesh Modi and his partner Virendra Modi made ex-gratia payment of Rs 270 crore to their son, daughter and son-in-law in the past few years, the officer said.

The SOG also got to know about payments amounting to Rs 720 crore made to Mukesh Modi’s wife and son-in-law in the past three years.

The SOG has arrested Virendra Modi, Kamlesh Choudhary, Ishwar Singh Sindhal, Priyanka Modi , Vaibhav Lodha, Sameer Modi, Rohit Modi, Bharat Modi,  Bharat Das Vaibhav, Lalita Rajpurohit and Vivek Purohit.

First published: May 27, 2019