City Reports

Jaipur-based Chartered Accountant (CA) arrested in Navjeevan Credit Co-operative Scam

Anil was summoned to the SOG headquarters for questioning and was later taken into custody.

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June 29, 2023, 11:52 pm

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JAIPUR: The Rajasthan Special Operation Group (SOG) has arrested a chartered accountant (CA) for his alleged involvement in the Navjeevan Credit Co-operative Society scam.

The CA Anil Kumar Jain, a resident of Lal Kothi in Jaipur, was taken into custody by the SOG team. The investigation revealed he allegedly orchestrated the misappropriation of crores of rupees to benefit the company.

Sources said the CA’s involvement in the embezzlement case of Navjeevan Credit Co-operative Society had been under suspicion. The SOG discovered evidence pointing to the CA’s connivance during the investigation.

Anil was summoned to the SOG headquarters for questioning and was later taken into custody.

Navjeevan Credit Co-operative Society, which operated 228 branches in Gujarat and Rajasthan, allegedly lured nearly 2 lakh people into investing in fraudulent schemes. The scam amounted to Rs 391 crores after taking into account the deposit capital invested by unsuspecting victims.

The society’s officials and responsible individuals went into hiding. Despite multiple FIRs being registered in various districts of Gujarat and Rajasthan, neither justice was served nor the culprits apprehended.

In 2019, the SOG initiated an investigation into the case, leading to the arrest of Girdhar Singh, the society’s director holding five senior positions. The SOG probe uncovered a criminal conspiracy in which society operators diverted crores of rupees, entrusted by investors to Navjeevan Credit Co-operative Society, to other companies.

Anil Kumar Jain, the accused served as an auditor in Navjeevan Credit Co-operative Society’s subsidiary companies.

First published: June 27, 2023