Three Arrested in Grihalakshmi Cooperative Society Scam in Azara; Crores Embezzled from Public

GUWAHATI/PALASBARI: Even as investment scams continue to rock the state of Assam, the arrest of three accused in another such fraud related to Grihalakshmi Cooperative Society has come to light in Azara near Jalukbari, on the outskirts of Guwahati city, which has sent shockwaves in the financial circles.

On Thursday, Azara police arrested the founder of the Grihalakshmi Cooperative Society, Jiten Deka, director Indrani Das, and secretary Sanjeev Deka.

The Grihalakshmi Cooperative Society allegedly swindled crores of rupees from the public through deceptive schemes.

The Society, operating in areas like Azara, Dharapur, Garal, Bhattapara, and Mirza, reportedly collected large sums from thousands of people via agents who visited homes.

Significantly, after offering loans at low interest rates, the society enticed customers with promises of greater returns through weekly, monthly, and annual installment schemes. However, when the deposits matured, customers were left empty-handed, with the financial institution refusing to accede to their requests for payment.

Multiple complaints have been lodged, which allege that Indrani Das, the director of Grihalakshmi Cooperative Society, embezzled crores of rupees.

Senior officials from Azara Police and the West Guwahati Police District on Thursday launched an investigation, leading to the detention of Indrani Das.

It is alleged that Indrani Das embezzled crores of rupees from numerous victims through fraudulent schemes. The founder of the Grihalakshmi Cooperative Society, Jiten Deka, who was also arrested by the Azara police, is currently being interrogated.

The institution allegedly used agents to collect huge amounts of money from thousands of victims. After luring clients to make deposits, the company refused their demands for payment when the deposits matured and the customers found themselves without the money they invested.

When one victim asked Jiten Deka for payment, he allegedly got no response. The victim said, “My policy matured on December 12, 2023. The director, Indrani, had promised to pay me in two instalments. However, after a few months, she got irritated when questioned about my payment, asking why I was worried, insisting that my money was secure. Now she is refusing to pay me and the other depositors. We need our money.”

“Indrani hasn’t paid my money,” said another victim, whose policy matured in October 2022. “Please at least pay my principal amount. I don’t want any interest,” added the helpless victim.

Meanwhile, the three accused were produced in court today, and they were remanded to four days of police custody.

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