The sessions court has denied anticipatory bail for the secretary and chairperson of Blue Peoples Cooperative Credit Society, accused of misappropriating over 13.5 crore in depositors’ funds.
Rejecting their pre-arrest bail pleas, additional sessions judge A S Salgar emphasized the severity of the offense, stating that betraying trust through expertise ranks among the worst categories of crimes.
The court highlighted the significant role money plays in bringing joy to life and noted that the defrauding of hard-earned money inflicts profound pain and agony, indicating the gravity of the economic offense.
Such offenses are viewed even more seriously when they involve the exploitation of ordinary individuals.
As per the First Information Report (FIR), Vivek Jadhav, a special auditor authorized by the government department of the co-operative commissioner and registrar of cooperative societies in Pune, conducted a re-audit of Blue Peoples Cooperative Credit Society from 2012-13 to 2016-17.
