In a major financial scam, the management of Dnyanradha Cooperative has been booked for allegedly swindling Rs 125 crore from depositors in Jalna’s Partur tehsil. The cooperative’s management, led by Suresh Kute, is accused of duping over 145 depositors with the promise of high returns on their investments. A complaint lodged by Bhagwanrao Khandagle, a pensioner, has led to an FIR being registered at Partur police station, with eight identified and several unidentified suspects named in the case.
The fraudulent scheme had been running for years at the cooperative’s branch in Partur, part of a wider scam that has seen multiple cases filed across Marathwada. According to authorities, the total amount defrauded across these regions amounts to over Rs 125 crore. Suresh Kute, the director of Dnyanradha Multistate Cooperative Credit Society Ltd, was arrested by Beed district police last month for his involvement in similar frauds, which have impacted many depositors.
In this specific case, Khandagle and his wife were duped of approximately Rs 58.2 lakh after they were promised high returns on their deposits with the cooperative. The investigation revealed that Kute, along with his associates, lured innocent depositors into investing large sums, only to later disappear with the funds.
Kute, along with his spouse and associates, is now under investigation for multiple fraud cases registered in Beed, Jalna, and Chhatrapati Sambhajinagar. The cooperative’s management is suspected of engaging in systematic deception, using the allure of high returns to target unsuspecting individuals.
Police authorities confirmed that Kute has been in judicial custody following his arrest and remains the key accused in the ongoing investigation. With multiple cases across Maharashtra, the authorities are working to recover the funds and identify the full extent of the fraud.
