BSNL Engineers’ Cooperative Society Scam: Five Arrested in $260 Million Misappropriation
The Crime Branch in Kerala has arrested five members of the board of directors of the scandal-plagued BSNL Engineers’ Cooperative Society (BECS) on Wednesday, following the Supreme Court’s dismissal of their anticipatory bail pleas on Tuesday.
The arrested individuals are identified as I. Minimol, K. Manoj Krishnan, Anil Kumar, and Sophyamma Thomas. They surrendered to the investigating officer and were remanded to custody, according to sources.
Another former board member, R. Prasad Raj, also surrendered before the court.
The BECS has faced intense scrutiny and multiple complaints from depositors accusing the president and other officials of misappropriating funds totaling approximately ₹260 crore.
Earlier, the Crime Branch arrested A.R. Gopinathan, the president of the society, and Rajeev, a clerk, who are considered key figures in the case. The police have filed charges against the president, secretary, board members, and employees of the society under various sections of the Indian Penal Code (IPC) related to criminal breach of trust and cheating.
The investigation into the BECS scam is ongoing, and further arrests are possible. This incident highlights the need for stricter regulations and oversight of cooperative societies to protect the interests of investors and depositors.
