Sun Apr 06 13:20:04 UTC 2025: ## Former BSNL Engineers’ Cooperative Society Officials Held Liable for ₹362 Crore Scam
**Thiruvananthapuram, April 6, 2025** – An investigation into the BSNL Engineers’ Cooperative Society (No. T-950) scam has concluded, holding former governing body members and staff liable for a staggering loss of ₹362.02 crore. The report, conducted under Section 68(1) of the Kerala Cooperative Societies Act, details embezzlement of ₹257.34 crore, plus ₹104.67 crore in accrued interest at 18%.
The investigation, which followed an initial probe revealing financial misappropriation through fraudulent practices, implicated individuals who served in leadership and staff positions between December 24, 2007, and December 25, 2022. The report accuses these individuals of fabricating documents, manipulating data, and embezzling funds, violating Sections 94(5) and 94(8A) of the Act.
Ten individuals, including the deceased former president A.R. Gopinathan and key accused A.R. Rajeev, face individual liabilities exceeding ₹30 crore, with over ₹10 crore attributed to interest alone. Gopinathan served as honorary secretary and later president of the society.
The scam targeted hundreds of depositors, primarily senior citizens aged 65-85, who lost their life savings through bogus fixed deposit receipts and other fraudulent activities. The investigation highlights the serious financial misconduct and its devastating impact on vulnerable investors.
First Piper 