Nagpur: In a massive financial fraud case, Jaripatka Police have registered a case against 21 office-bearers of Utthan Nagari Sahakari Pat Sanstha for allegedly cheating depositors of over ₹4.54 crore.

The complaint was lodged by Narayan D. Gadhekar, a special auditor (Class II) for cooperative institutions. During an audit of the society’s accounts from April 2018 to March 2023, Gadhekar discovered major irregularities including acceptance of illegal deposits and misappropriation of funds.

Accused officials, including manager Shashikant Naranware, chairman Mahendra Janardhan Raut, vice-chairman Sanjay Dashrath Gajghate, and 18 other directors and members, allegedly conspired to defraud depositors. They were found to have created fake financial statements and submitted them to the authorities to conceal the scam.

The accused also misused funds for illegal commissions to pigmy agents and unauthorized payments to recovery officers. The fraud is estimated at ₹4,54,68,237.

Based on the complaint, PSI Shashikant Tayde registered a case under IPC Sections 406, 420, 409, 465, 467, 471, 477(A), and 120(B). Further investigation is underway.